The Future Of Economic Relations with Asia
ATB Financial’s Chief Economist, Todd Hirsch, is joined by special guests to go beyond China’s borders to discover the future economic possibilities between Canada and Asia.
By ATB Financial 5 July 2022 2 min read
Economic relations go far beyond trade. Investing, intellectual property, services, culture and much more all impact the economy. While China remains one of Canada’s major trading partners, Asian economies account for two-thirds of the growth in the global economy. As we look at growth trends over the last two decades, Canada’s trade and economic relations with Asia has grown on average 6% per year, while our growth with the USA market has only grown 2.5% - making Asia an important consideration when it comes to the future of our economic relationships.
This series features two episodes. In episode one, Todd Hirsch is joined by Sharon Sun, Trade Policy Economist at the Canada West Foundation and Distinguished Fellow at Asia Pacific Foundation. In episode two, Crystal Nash, ATB Financial’s Media Analyst who has over nine years of corporate experience across Asia joins the conversation.
Episode 1 - Sharon Sun, Trade Policy Economist at the Canada West Foundation and Distinguished Fellow at Asia Pacific Foundation
How do sectors like education, agriculture and technology amplify economic opportunities between Asia and Canada? Beyond the future of these sectors, this episode explores the growing middle class in Asia, and Canada’s opportunity for innovation in spaces like food manufacturing, as protein alternatives are in high demand in China.
With technological innovation and education being a large focus among many Asian countries, we are looking at a future of more research cooperation and facilitation. What does this mean for Canadian researchers in the future? And for students from both Asia and Canada who are looking for international education?
Learn more about the Canada West Foundation.
"Looking at agricultural consumption forecasts, by 2030, the largest consumers of our key products such as wheat, soybeans, corn, meat and so on will be China and other countries in Asia."
Trade Policy Economist, Canada West Foundation
Episode 2 - Crystal Nash, Media Analyst ATB Financial, Economic Policy
By building understanding around the similarities, differences and opportunities between Canada and Asia, Canada can work on growing positive economic relations that support our communities. With over nine years of corporate work experience across Asia, Crystal pulls back the curtain to help us understand the opportunities and challenges that are present as we foster these relationships. What did Crystal experience that we can learn from and apply to our own systems to set Canada up for success?
These relationships impact each of us. From our ability to shop our favorite brands, to building our businesses and even pursuing the education and experiences we desire, each of us has a role to play when influencing economic relationships with Asia.
From ESG practices and diversity, to business advice and how brand loyalty, including timbits, are impacting even the smallest local economies - no topic is left behind.
"There was a very strong connection between the ESG goals that were being set internationally, understanding them, applying them locally and then how businesses were going to work with governments to achieve those goals."
Media Analyst, ATB Financial
In this series
Chief Economist Todd Hirsch connects with Sharon Sun, Trade Policy Economist at the Canada West Foundation, and Crystal Nash, Media Analyst at ATB Financial.
While China is Canada’s main trading partner within Asia, we go beyond China’s borders to discuss the opportunities, challenges and future of economic relations with Asia. From trade to technology, ESG, education, agriculture and much more, this series unpacks how Canada can go from being a footnote, to note-worthy when it comes to economic partnerships.