Canadian imports from China hit $100B in 2022, setting new trade record: StatCan
But tensions between Ottawa and Beijing remain high amid allegations of Chinese interference in Canadian elections and government confirmation of Chinese surveillance operations.Anastasia Ufimtseva, a program manager at the Asia Pacific Foundation of Canada, said that although economics and politics are “very tied” together, it could take a long time for them to become aligned.
“Potentially in the future, we might observe the changes in trade, they might trickle down, but we still need to be cautious about all the factors that businesses take into account when they form the decision.” “Despite a lot of countries saying that post-pandemic, we want to establish alternative supply chain structure, it’s costly and difficult to switch if your business was established, you have your suppliers. It will take such a long time to find alternatives to build that infrastructure,” said Ufimtseva.Daniel Trefler, an economist at the University of Toronto, said manufacturing supply chains can’t be moved easily.
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