Question
China is projected to be the world's largest economy in the coming years with a GDP and growth over six times and three times higher
China is projected to be the world's largest economy in the coming years with a GDP and growth over six times and three times higher than Canada respectively.
Canada's inconsistent economic relationship with China will be detrimental to the producers and exporters in Canada as they risk being left out in the economic growth plans of China.
CCFTA will be beneficial to Canada in the coming years as this will create 25,000 high skilled jobs, increase wage rate, and increase Canada exports by some $7.7 billion, and also Canada GDP by about 0.14% by 2030 (Dawson and Ciuriak, 2016, p. 2).
Furthermore, Canada's automotive exports to China will increase by more than $1.4 billion, machinery and equipment by $584 million, chemicals, rubbers, and plastics by some $688 million and exports of vegetable oil and oil seeds at approximately $1.7 billion.
CCFTA will create diversification of Canada's trade from The United States towards the world. Also lower-priced import for consumers and producers will generate economic gains (Dawson and Ciuriak, 2016, p. 2).
On the basis of above points, kindly provide counter arguments if it was a debate? (include references as well)
Regards,
Pooja
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started