To Win Over Asia, Canada Needs More Than Nice Speeches

Canada is on a public-relations roll. Prime Minister Mark Carney wowed Davos elites by declaring a “rupture” with the American-led financial and industrial system that has prevailed for decades. That’s a message that resonates in Asia, where economies grew rapidly by supplying an abundance of goods to American consumers, only to be confronted with tariffs that were scarcely conceivable a few years ago.

Ottawa is stepping up its courtship of the region. The campaign was readily apparent in Singapore last week with a conference devoted to stronger ties with Southeast Asia. This effort isn’t for the fainthearted, nor should businesses expect instant results just because of the premier’s aphorisms. Nor should it be under any illusion that the region is a substitute for America, destination for almost three-quarters of Canada’s exports and with whom its capital markets are intimately bound.