Canada’s next trade pact should focus on Japan and India
Assuming that president-elect Donald Trump follows through on his promise to scuttle the Trans-Pacific Partnership, what should Canada put in its place? Here’s the case for making the emerging Japan-India axis the cornerstone of Canada’s Asia policy.
First the economics. India is Asia’s emerging high-growth economy and population behemoth. China is increasingly yesterday’s story, with its economy losing steam, the looming crisis of an aging population and its Potemkin infrastructure. India under dynamic Prime Minister Narendra Modi, by contrast, is gathering powerful momentum every day. Not only is it the world’s second-most populous country, its economy is going gangbusters (its growth rate is now consistently higher than China’s – and its statistics are more reliable). Its increasing self-confidence and insatiable appetite for investment mean barriers to investment are falling all the time. Read more….