Top Canadian executives are recognizing that Canadian exports need to expand beyond its top trading partner, the U.S., and focus on emerging markets in order to grow. A survey was sent out to top executives with 80% responding they believe the U.S. is in decline as an economic power. The survey went on to discover that another 90% believe that Canada needs to expand its trade with emerging market countries and lower trade with the U.S. in order to remain prosperous. 76% of respondents also said the top two Asian markets to focus on are China and India. According to Michael Bernstein CEO of Capstone Infrastructure Corp. economic activity is decreasing in the U.S. and will continue to have slower growth verses China, India and other emerging market countries. He goes on to say Canada needs to concentrate on emerging markets otherwise Canada will lose market share. Scott Edmonds CEO of Webtech Wireless Inc. says most Canadians underestimate Asia’s growth potential and the rise of the middle class accompanied by the consumption story. While he says not to ignore the U.S. he also says there is greater opportunity for growth in Asia. Emerging Markets can no longer be ignored by Canadian investors otherwise they will miss out on growth opportunities in their portfolios. Excel funds offer a range of different emerging market funds ranging from country specific such as India and China as well as emerging markets in general.
Written by Jeff K.
Blackwell, R. (2012, December 17). Canadian businesses look to emerging markets.The Globe and Mail. Retrieved December 17, 2012, from http://www.bnn.ca/News/2012/12/17/To-bolster-prosperity-businesses-look-to-emerging-markets.aspx