00:00China has positioned itself as a reliable trade partner. China has always been positioned
00:07itself as a good trade partner. Look how they positioned themselves in Africa. But at the
00:12end, you know, there is a domination by China. So unless you create what we call a core economic
00:23ground and strong economic ground, you still be in between the two polarity, the U.S. and
00:31China. Soon the Chinese, you know, economy will overrun the U.S. one. So Anna, my opinion
00:38is that the Canadian and the European need to meet and organize and consolidate maybe
00:46through trade accords and even further. They are talking about defense accord with
00:53the NATO in order to create a third, if you want, a third pole, economic pole, where they
01:00can together be stronger. If each country alone try to deal with this country or that country,
01:06at the end, at the end, the big ones will win. And each country alone will lose on the mid
01:14or long run. You have to know that the European also has signed recently with the Mercosur,
01:22as you know. And signing with the Mercosur will open to Europe a 260 million person or consumer
01:31across Latin America and other countries who are dealing with the Mercosur. This also is a way of
01:38going forward and absorb any potential future impact of increasing tariffs in Europe. Maybe that
01:47will impact, you know, net exporters in Germany and Holland, you know. And in France, it would
01:56be mitigated because in some areas, France will have an open, you know, trade channel for cosmetics
02:06in Brazil, etc. At the same time, they have impact on the local farmers because, you know, South America,
02:15you know, meat cost is very cheap. So there is no free lunch in finance or in economy. From where you take
02:22from somewhere, you put somewhere else unless you start reaching sustainability. And this is where Canada
02:28and the European need to create a mid-term or long-term strategy for their sustainability, internal, you know,
02:35trade corridors, but also external diversified trade corridors to reduce any concentration risk on their economy.
02:45Why? Because any impact, any hit on the economy of any country that will do it on a standalone base
02:53will have a GDP depreciation by around half a point, which is a lot. They will have stagflation,
03:01which means continuous inflation and risk of, you know, increase in prices. So all this,
03:10they need to set a new strategy. And during the Davos, you know, meeting, the European insisted
03:17on fixing this meeting and sitting for it because it was a unique opportunity for all the managers
03:27of the world to sit and discuss and align. And in French, we say, l'union fait la force. That means,
03:35you know, we are stronger together. Alone, we will lose.
03:40with Federico
03:45,
03:47.
03:49and
03:50.
03:51.
03:55,
03:57.
03:59.
04:03.
04:05.
Comments