It’s not over: Xi Jinping’s rebuke of Justin Trudeau could bring economic consequences
Chinese President Xi Jinping has a habit of bullying small democracies. Politically unchallenged at home and increasingly assertive abroad, China’s strongman leader responds with threats and intimidation when less powerful countries have the nerve to upset Beijing.
Like many countries, Canada depends on the large Chinese market for exports. But the reverse isn’t true. Most individual countries each count for a small portion of China’s international trade. China holds power over many trading partners, and Beijing doesn’t hesitate to wage asymmetric trade warfare against small democracies that it thinks are acting uppity.
But in recent years Canada has been ragging the puck on China and slow to pivot toward the Indo-Pacific region. Canada was the last Five Eyes country to ban Huawei from its critical infrastructure, and when the Biden administration launched its new Indo-Pacific Economic Framework for Prosperity last May, Canada was conspicuously absent. All of that hasn’t gone unnoticed in Washington. Nor in Beijing.
Moreover, Canada has untapped commercial advantages in the Indo-Pacific. Thanks to free trade agreements with South Korea and Japan , it’s well positioned to deepen engagement on critical minerals and electric vehicles with those two automaking giants. Fast-growing economies such as India and those in Southeast Asia should be natural trading partners for Canada.
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