Justin Trudeau obviously believes in hitching his wagon to a rising star as evidenced by his overtures to China. During his report to the House of Commons, he said,'' We know that engaging with China, to be able to set the rules and ensure opportunities for Canadian businesses to succeed in a globalized world is just the right thing to do.''
It may seem like it, considering China has the world's second largest economy with a gross domestic product in 2016 of $14.9 trillion. Furthermore China wants what Canada has to offer such as raw materials for its construction projects.
According to Sarah Kutulakos, executive director of the Canada China Business Council, the Canadian economy will grow by $7.8 billion and add 25,000 jobs within 15 years of signing a free trade deal with China.
According to Sarah Kutulakos, executive director of the Canada China Business Council, the Canadian economy will grow by $7.8 billion and add 25,000 jobs within 15 years of signing a free trade deal with China.
Sounds great right? But you know what it may not be so great. Ken Neumann, the head honcho of the United Steelworkers Union said there are concerns in some industries, such as steel production,,that the massive capacity of Chinese production could allow China to flood the Canadian market and kill businesses here.
Though he didn't say it, one doesn't need to be a genius to figure it will cause unemployment in some industries. A typical capitalist situation -- if its beneficial for some, it's a disaster for others.
For socialism,
Steve, Mehmet, John & contributing members of the SPC.
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