Canadian CEOs: Don’t Single Out China on Security
Canadian business leaders have heard all the warnings about China: fears that Chinese hackers and cyber-spies may be trying to breach the computer networks of Canadian companies and government departments, and concerns about huge state-owned companies taking over vital Canadian resources.
The warnings haven’t fallen on deaf ears, but they don’t exactly have Canadian companies running for the exits. China is just too big and too wealthy to scare off business that easily.
Some of Canada’s top executives met in Ottawa this week at a forum hosted by the Canadian Council of Chief Executives. The two-day event, called Canada in the Pacific Century, attracted some of the top CEOs, government ministers and academics all keen on prying open the vast Asian marketplace for Canadian business.
Bank of Canada governor Mark Carney was there, assuring Canadian companies it’s never too late to break into the Asian market. Carney told his audience there is still the potential for “a huge amount of growth” in China.
Canadian businesses have known about China’s potential for years. So have Canadian politicians. Ottawa sent its first trade delegation to the People’s Republic in 1972, not long after the two countries established formal diplomatic relations. Jean Chretien led numerous Team Canada missions to China during his tenure as prime minister.
Even current Prime Minister Stephen Harper, who was cool to China when he was first elected in 2006, eventually came around to the realization the world’s biggest market could not be easily ignored. There is now even talk of China and Canada one day reaching a free trade deal.
– CBC