ASIA
26 March 2014
Canada is "'Missing in Asia", MIA.
Canada is "missing in Asia", lamented Canadian business leaders at the opening of CanadAsia2013.
Canada is "missing in Asia", lamented Canadian business leaders at the opening of CanadAsia2013.
This ambitious conference, which boldly seeks to navigate Asia's future and chart Canada's strategy, is organised by the Asia Pacific Foundation of Canada and the Pacific Economic Cooperation Council.
Dean Connor, President and CEO of Sun Life Financial, and David Emerson, former Canadian foreign and trade minister, set the tone for this Vancouver-based "gab-fest".
Canada may be responding to the rise of Asia, "but not fast enough"!
For its part, Sun Life is very active in Asia. Way back in 1892, this company broke out of its comfort zone, and headed to Asia. But not enough other Canadian companies are following suit. While all top hundred American companies are active in Asia, only half of Canada's top hundred have headed East.
Canada needs to be more innovative and dynamic to seize the opportunities in Asia. Canada should follow the example of Australia and devise a strategy for the Asian Century.
To be strong internationally, Canada needs to be strong at home. This means being competitive. But Canada has had weak productivity performance for some time.
Canada also needs an Asia-ready workforce, with all he necessary skills. With Asian Canadians making up 11 per cent of the population, this gives Canada a huge competitive advantage.
For its part, business needs to be more aggressive, and also patient. It's too easy to feel comfortable at home. Success will only come from moving out o your comfort zone. Canadians have been too modest.
Asia is not for everyone. But future market growth will come from Asia and other emerging markets, not from home.
The government has been more active, with the prime minister and trade minister leading missions to Asia. But more action and results are needed on free trade agreements. Business also needs to be more active by feeding information to government.
As Asia Pacific Foundation surveys show, Canada must do more to improve its Asia-readiness. Asian kids all learn English, but Canadian kids seem reluctant to learn Asian languages. Canada needs a passionate commitment to Asia. Canada should also celebrate excellence in maths, science and engineering, areas where Asian excel.
But Canadians also need to be more aware of the fault lines emerging in Asia.
Like security issues between China and its neighbours. China's feisty reaction to the US "pivot" to Asia. North Korea's unpredictable behaviour. A North Korean rocket targeting the US, could well land in Canada!
Today, trade and security are intimately related. Many technology exports can equally be used for civilian or military purposes. Cybercrime is growing in intensity. Trade and globalisation are dramatically reducing poverty in Asia. But the global environment cannot support the impact of this economic development.
In short, Canada needs to get its act together. Many Asians lament that Canada use to be present and active in Asia, but now "Canada has gone missing". There was even a call for Asians to help Canada rebuild its friendship with the region.
What can we expect from this ambitious conference "CanadAsia2013"?
After all, Canada has had too many "gab-fests" on Asia, after which nothing happens. We need action-items, to learn something new, and making new contacts.
The positive sign is that many of Canada's Asian practitioners understand the issues. But can consciousness-raising lead to a trickle-down? We will see.
Executive Director
Asian Century Institute
www.asiancenturyinstitute.com
This ambitious conference, which boldly seeks to navigate Asia's future and chart Canada's strategy, is organised by the Asia Pacific Foundation of Canada and the Pacific Economic Cooperation Council.
Dean Connor, President and CEO of Sun Life Financial, and David Emerson, former Canadian foreign and trade minister, set the tone for this Vancouver-based "gab-fest".
Canada may be responding to the rise of Asia, "but not fast enough"!
For its part, Sun Life is very active in Asia. Way back in 1892, this company broke out of its comfort zone, and headed to Asia. But not enough other Canadian companies are following suit. While all top hundred American companies are active in Asia, only half of Canada's top hundred have headed East.
Canada needs to be more innovative and dynamic to seize the opportunities in Asia. Canada should follow the example of Australia and devise a strategy for the Asian Century.
To be strong internationally, Canada needs to be strong at home. This means being competitive. But Canada has had weak productivity performance for some time.
Canada also needs an Asia-ready workforce, with all he necessary skills. With Asian Canadians making up 11 per cent of the population, this gives Canada a huge competitive advantage.
For its part, business needs to be more aggressive, and also patient. It's too easy to feel comfortable at home. Success will only come from moving out o your comfort zone. Canadians have been too modest.
Asia is not for everyone. But future market growth will come from Asia and other emerging markets, not from home.
The government has been more active, with the prime minister and trade minister leading missions to Asia. But more action and results are needed on free trade agreements. Business also needs to be more active by feeding information to government.
As Asia Pacific Foundation surveys show, Canada must do more to improve its Asia-readiness. Asian kids all learn English, but Canadian kids seem reluctant to learn Asian languages. Canada needs a passionate commitment to Asia. Canada should also celebrate excellence in maths, science and engineering, areas where Asian excel.
But Canadians also need to be more aware of the fault lines emerging in Asia.
Like security issues between China and its neighbours. China's feisty reaction to the US "pivot" to Asia. North Korea's unpredictable behaviour. A North Korean rocket targeting the US, could well land in Canada!
Today, trade and security are intimately related. Many technology exports can equally be used for civilian or military purposes. Cybercrime is growing in intensity. Trade and globalisation are dramatically reducing poverty in Asia. But the global environment cannot support the impact of this economic development.
In short, Canada needs to get its act together. Many Asians lament that Canada use to be present and active in Asia, but now "Canada has gone missing". There was even a call for Asians to help Canada rebuild its friendship with the region.
What can we expect from this ambitious conference "CanadAsia2013"?
After all, Canada has had too many "gab-fests" on Asia, after which nothing happens. We need action-items, to learn something new, and making new contacts.
The positive sign is that many of Canada's Asian practitioners understand the issues. But can consciousness-raising lead to a trickle-down? We will see.
Author
John WestExecutive Director
Asian Century Institute
www.asiancenturyinstitute.com