When I look at Canada’s Indo-Pacific Strategy, I don’t necessarily see any details that could apply to the New Brunswick situation. In principle, though, we need to make greater efforts to help seafood exporters, for example.
Although we shouldn’t limit ourselves to this, one possible measure is to increase Chinese investment in Canada, in the Atlantic provinces, but this approach presents a political challenge. I would point out that the China Institute at the University of Alberta has conducted several studies on the level of investment in Canada, and it is now much lower. Indeed, there is public opposition to the People’s Republic of China investing in Canada, even in non-strategic areas such as the agricultural sector, where there are no major risks.
China is the world’s second-largest economy. All of Canada’s provinces depend on exports. Canada has a tradition of exporting luxury goods to Europe, the United States and other places with more or less the same values and institutions as ours. It’s a different story in Asia, especially when it comes to China.
In my opinion, we should have a slightly more sophisticated investment policy. I agree that every Chinese investment in Canada needs to be carefully analyzed to see if it provides clear benefits to our country. However, Canada’s current answer to this question is almost always no, even in non-strategic areas. And yet, a Chinese firm setting up in New Brunswick must comply with Canadian and provincial rules and laws. Based on this, I believe we can find solutions that are in the interests of both parties. Right now, however, it’s very challenging, both politically and in terms of public opinion.