China is embarking on an aggressive, $300-billion plan to become nearly self-sufficient by the year 2025, a move that will give Chinese companies a major edge in the push to squeeze out foreign enterprise.
Amy Karam, author of “The China factor,” says China’s strategy includes:
- Offering Chinese companies large and very low-interest loans
- Helping Chinese companies purchase foreign competitors
- Subsidizing more research
So what does this mean for global trade and Canada?
“There’s a lot of cries about unfair trade and what is the (World Trade Organization) going to do about this, but it’s just really status quo amplified,” Karam said.
Karam says the formalization of their plan could be China’s effort for a major re-branding strategy.
“I think China wants to become known for (being) a quality provider and not just a manufacturer for the world’s low-cost goods,” she said on CTV’s Your Morning Tuesday. “Their people are also becoming much more advanced and they want to prep the next generation for higher-value chain jobs.”
Watch as Karam explains on why China’s plan may actually be a good opportunity for foreign companies and countries.
