China and emerging markets more important to Canada since global financial crisis: Scotiabank

The Canadian Press ~ The News
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TORONTO - Scotiabank says Canada's economy is on the road to recovery but the country will have to adjust to a world that has changed since the recent global financial crisis.
The Canadian bank's chief economist, Warren Jestin, says China and other emerging markets will provide a lot of the world's future economic growth.
Jestin says Canada's success in these markets will depend on identifying high-value products and services that can plug into global supply chains.
He thinks a key source of Canadian job creation over the next decade will come from highly entrepreneurial small and medium-sized businesses.
Scotiabank also warns that governments cannot afford to use last year's bailout of the auto sector as a model for supporting industries in crisis.
Jestin says a winning strategy for government is to establish a competitve tax environment and what he calls a "world class" urban infrastructure.

Organizations: Scotiabank

Geographic location: Canada, China, TORONTO

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