Economic Benefits of Increased Trade With China

Dawson, L., & Ciuriak, D. (2016) stated Canada is expected to have weak market opportunities unless they formulate a comprehensive economic strategy with China. This benefit most Canadian industries.

Dawson, L., & Ciuriak, D. (2016) advised a comprehensive economic strategy with China helps Canada to divert dependence from slow growing economies like the United States and European Union and build upon new emergent industries where Canada and potentially grow into a global leader, such as green technology.

RMB HUB

Dawson, L., & Ciuriak, D. (2016) observed making payments in Chinese currency is fast and secure with RMB hub. Exchange cost is saved by the Canadian exporters and Chinese importers are able to make easy transactions as they get paid in Chinese currency. It is estimated the existence of the RMB hub could boost Canada's exports to China by over $ 32 billion over the next decade.

"China is now a global exporter of capital, skilled workers, and services. These relationships have made the Chinese government more open to economic agreements with large and advanced economies". Dawson, L., & Ciuriak, D. (2016)

Thus making China an integral part of Canada's trade policy is crucial for Canada's economic growth.

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