{"id":11453,"date":"2015-08-25T06:48:35","date_gmt":"2015-08-25T11:48:35","guid":{"rendered":"http:\/\/olduvai.ca\/?p=11453"},"modified":"2015-08-25T06:48:35","modified_gmt":"2015-08-25T11:48:35","slug":"chinas-market-woes-could-be-chance-to-reset-canadian-economy","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=11453","title":{"rendered":"China’s market woes could be chance to ‘reset’ Canadian economy"},"content":{"rendered":"
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China’s market woes could be chance to ‘reset’ Canadian economy<\/a><\/h3>\n<\/div>\n

Canada should ‘rely less on commodity growth and put the emphasis on other sectors,’ analyst says<\/strong><\/p>\n

China’s staggering economic growth has been, in many ways, a boon for Canada.<\/p>\n

Put simply, China need lots of the things we have to offer like wood, metals, and potash. It also has a voracious appetite for oil. While we still send the vast majority of our oil south, China’s consumption had in part kept oil prices high, which benefitted our resource-based economy.<\/p>\n

Yesterday’s stock plummet in Shangha<\/a><\/strong>i, however, could further rattle already struggling commodities markets – ultimately hitting at Canadian producers.<\/p>\n

The sell-off and ensuing market chaos was also an indication that doubts remain about China’s ability to maintain its projections for growth amid historic internal reforms that could considerably lower demand for many of the things Canada is offering.<\/p>\n

“We are a commodities producer that relies on global economic growth and for the past 10 years or so that growth has come largely from China,” says Ian Nakamoto, director of research at the Toronto investment firm MacDougall, MacDougall & MacTier.<\/p>\n