Canada to enhance relations with China
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E-mail Xinhua, February 6, 2012
Seeking new markets in Asia
Commenting on the economic situations at home and abroad, Harper said Canada remained very concerned about the continuing instability of the global economy.
"The problems afflicting Europe, and for that matter, the United States, are not only challenging today but threaten to be even greater problems in the future," he said.
On the issue of the debt crisis, Harper said, it is important for developed countries to implement their debt and deficit reduction plans agreed to at the G-20 in Toronto.
As for the situation in Canada, he said Canada had economically outperformed most industrialized countries during these recent difficult years for the global economy.
Forbes magazine ranks Canada as the best place on the planet for businesses to grow and create jobs. The OECD and the IMF predict Canada's economy will again be among the leaders of the industrialized world over the next two years. And, for the fourth year in a row, the World Economic Forum says Canada's banks are the soundest in the world.
"These evaluations are the result of sound fundamentals," Harper said. "Among G-7 countries, Canada has the lowest overall tax rate on new business investment. Our net debt-to-GDP ratio remains the lowest in the G-7 and by far."
He acknowledged that his government remains concerned about the number of Canadians who are still out of work, and the government is working on Economic Action Plan 2012, a plan for jobs and growth in Canada.
Harper said, as growth remains slow in Europe and the United States, it would be critical for Canada to reach out to new markets in Asia.
"The Asian economies are growing quickly and represent an important market for Canadian goods and services," he said. "The Asia-Pacific region, of which China is a major part, is of tremendous significance to our government."
Fully engaged Canada-China makes sense
Harper stressed that China would have an important role to play in the global economy as the world looks to create strong, sustainable and balanced global growth through the G-20.
"Growth in China has been remarkable and it is important for the global economy that that growth continues," he said.
The Cannes Action Plan for Jobs and Growth, a plan developed by Canada, was endorsed by G-20 Leaders in November. Harper said that, since Cannes, there had been a modest appreciation in the Chinese currency against the U.S. dollar, adding that it was important for the credibility of China's policymakers and the G-20 that China followed through on its commitments.
"To be sure, China is not the only country that must adjust. Developed economies will have to make important changes too," he said. "For example, we must set out clear plans to reduce our fiscal deficits and fully implement the financial sector reforms that we agreed to at the 2009 G-20 Summit in Pittsburgh. Countries must also continue to resist protectionism and leaders must be strong in their calls for free and open trade."
Harper stressed that, like China, Canada is also a Pacific nation with a growing economy and strong potential, so it makes sense for China and Canada to be fully engaged with each other.
"The upcoming visit to China represents an excellent opportunity to strengthen the economic and trade ties between our two countries. As I said, I look forward to making progress," he said.
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