Stepping Up the Game Plan: Getting Serious About China
Blog post by OCRI. Reposted with permission.
Once more in China, and once more learning. I attended the Canada China Business Council’s (CCBC) 33rd AGM and banquet. Listening to the remarks was interesting. The Honourable John Manley, President and CEO of the Canadian Council of Chief Executives (CCCE), discussed a recently released report sponsored by the CCBC and CCCE entitled “Canada, China and Rising Asia: A Strategic Proposal”. The report correctly pointed out Canada’s inconsistent approach to both China and Asia, the unrealistic approach taken by, and expectations of, many of our companies to the region and their lack of consistent follow up. Given the growing importance of the region, the time had come for our governments and companies to develop coherent and long term strategies toward the region.
In past blogs, I have talked about the growing importance of innovation, commercialization and globalization that is evident in China’s 12th Five Year Plan. That message was clearly evident in the remarks by Yu Jianhua (Assistant Minister of Commerce of PRC) and Cheng Siwei (Vice-Chairman Standing Committee of the 9th and 10th National People’s Congress). Cheng Siwei went on to observe that Canada could easily just sit back and live off the wealth of its natural resources. But it was not. Instead, it was embracing innovation developing companies like RIM and continuing to build a globally respected financial system.
Taking the comments from the two countries together, the conclusion would have to be that Canada is respected by China for our natural resources, but also for moving beyond those resources to develop competitive industries in the knowledge-based global economy. On the other hand, we cannot be complacent with our past success, must recognize the new global economic reality and governments and companies embrace and partner with the emerging economies of Asia. We have looked South to the United States and we have looked East to Europe, now we must look West to Asia.
All that high level policy is fine, but how does it translate to reality at the working level. Having worked with Beijing’s Z-park for six years, their progress never ceases to amaze me. Besides being in awe of the shear extent of their reach and the number of companies in the Park, I also appreciate their constant drive forward. Just as it was mentioned that Canada is not content with its abundance of natural resources, so is the Z-Park not content with its past success. It is working hard to develop the next generation of companies, but it is also putting in the resources to help its growing companies to move out into the global economy. And it is not inward looking. Park management is looking at how global investments can forge links that make Beijing and its companies stronger.
The message is clear. Canada and China must move to put the policy and strategies in place that create the framework for mutual global competitiveness and prosperity. At the regional level, our institutions and companies must work within that framework to make mutual prosperity a reality.
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