Graham Shantz, President of the Canada China Business Council, discussed Canadian Prime Minister Mark Carney’s visit to China, stressing the importance of resolving trade irritants and leveraging China’s central role in the global economy. He highlighted opportunities for green and energy-transition cooperation, and underscored the significance of China remaining an open market for Canadian goods and investment. Shantz also noted that the visit serves as a strategic step for Canada as it manages pressure from the United States and seeks to diversify its exports.
00:00Graeme Shantz is the president of the Canada-China Business Council.
00:05I think in the first instance, it re-establishes the habit of meeting between the Canadian leader and Chinese leadership, which is very important.
00:15Secondly, I think they'll have to address some of the irritants, trade irritants, trade and goods irritants that are ongoing.
00:22And finally, I think it's really important that at this moment, in terms of the global economic system, that we have a prime minister in Canada very capable of talking about the flows of capital, the flows of goods and the overall global economic framework.
00:38And China, as the second largest economy in the world, has a critical role to play in the decade ahead in terms of managing the global economic system.
00:47This visit comes as U.S. tariffs and this America First policy is hitting Canadian exporters and pushing Ottawa to diversify.
00:56How much of the trip is really about managing the pressure from the U.S.?
01:02The domestic economy in Canada, it's true, is in a bit of a soft patch, but it's still growing.
01:07We're not in recession.
01:08At the same time, you're correct, the prime minister has identified the importance of doubling non-U.S. exports as a percentage of total Canadian exports by 2035.
01:20China clearly plays a critical role to that objective.
01:24And I'm delighted in our membership of the 300 members of the Canada-China Business Council are delighted to see that emphasis.
01:30You mentioned climate change, alternative energy.
01:35Of course, we know that the energy transition is high on almost every agenda around the world.
01:40Where do you see realistic and specific opportunities for green cooperation between China and Canada?
01:48China has a lot of technology and capacity in the area of solar and wind and indeed systems.
01:55Also, in terms of transportation, so tremendous capacity on the Chinese side.
02:01We have capacity in Canada as well in terms of the intellectual property underpinning it, as well as government targets with respect to the energy transition.
02:11So I think there's a lot of space in that area, and there could be some concrete projects over time that might develop that would be appropriate for the two countries' investment in two-way flows in this space as well.
02:25You speak regularly with members of the business council.
02:28What's the most important message that you are hearing from them ahead of this visit?
02:34No, I think from a perspective of Canadian exporters, but Canadian investors, and also the people-to-people ties that we have reflected in the membership of the Canada-China Business Council.
02:46So this is education and other areas, tourism.
02:50But I would say that I think it's critical for China at this point in time to continue to play a role that it played in the great financial crisis, for example, in 2008-2009, as a stable source of final demand for the global economy.
03:05I think for our companies and our members, China continuing to play that role is critical.
03:11For example, the China import exhibition that's held every year in Shanghai is a critical signal.
03:18So China's market remaining open, remaining welcoming of foreign goods, remaining welcoming of foreign investment, is a critical role from our members' perspective in the years ahead.
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