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China’s economic influence more welcome in poorer countries, poll finds

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Thailand holds most positive views of China, followed by Nigeria, Kenya and Tunisia, Pew survey shows.

Taipei, Taiwan – China’s economic influence is felt everywhere around the world, but whether it is viewed in a positive or negative light depends greatly on each country’s economic development, a survey of 35 countries has found.

People living in high-income countries like the United States, Canada, Australia expressed broadly unfavourable views of China overall, with a median of 70 percent of people across 18 countries reporting negative feelings, according to polling released this week by the Pew Research Center.

Those perceptions flipped in middle-income countries like Thailand, Kenya, and Bangladesh, with a median of 56 percent of respondents across 17 countries reporting favourable views, according to the Pew figures published on Tuesday.

Within the 35 countries surveyed, individual views varied widely, with the lowest approval rating reported by Sweden at 11 percent, followed by Japan (12 percent), Australia (14 percent) and the US (16 percent).

The most positive views were reported by Thailand at 80 percent, followed by Nigeria (75 percent), Kenya (73 percent), Tunisia (68 percent), and Singapore (67 percent).

A similar division was seen regarding perceptions of whether China had a positive or negative influence on the economy specifically.

A median of 57 percent of people in high-income countries viewed China’s economic influence negatively, in contrast to the median of 47 percent of people in middle-income countries who viewed its influence positively.

In the US, 76 percent of respondents reported negative views towards China’s economic influence, followed by Germany (69 percent), France (68 percent), and Canada (68 percent), with similarly negative views held across Europe, Japan, South Korea and India.

Singapore and Malaysia viewed China’s economic influence in the most positive light, with 67 percent of respondents reporting favourable views, followed by Nigeria (64 percent) and Thailand (63 percent).

Pew attributed some of the views to the effect of China’s massive Belt and Road Initiative, which has invested more than $3 trillion in other countries over the past decade.

Views of Chinese President Xi Jinping were negative on the whole, with a median of 24 percent of respondents expressing confidence in the leader and 62 percent reporting little to no confidence.

The most unfavourable views were held by Japan (87 percent), Australia (85 percent), and Sweden (82 percent).

Singapore and Thailand had the most favourable views of Xi, with 63 percent of respondents saying they had a fair or great deal of confidence in the Chinese leader, followed by Malaysia (55 percent) and Bangladesh (51 percent).

Nine middle-income countries surveyed separately about the effect of Chinese companies on their economies reported overall positive views.

A median of 72 percent agreed that Chinese companies are good for their country’s economy, with the most positive views reported in Thailand (81 percent), Kenya (80 percent), and Bangladesh (79 percent). The trio of countries also reported overall positive views about the environmental impact of Chinese companies and how they treat local workers.

India had the most negative views, with only 49 percent of respondents viewing Chinese companies as having a positive effect on their economy, followed by Ghana (55 percent) and South Africa (57 percent).

Within the Asia Pacific region, nine out of 10 countries surveyed expressed a high level of concern about China’s territorial disputes in the region.

The highest level of concern was expressed in the Philippines, which regularly clashes with Beijing over its claims in the South China Sea, with 91 percent of respondents saying they were at least somewhat worried.

The Southeast Asian nation was followed by South Korea (87 percent) and Japan (86 percent), which have similar disputes in the East China Sea, Australia (82 percent), and India (69 percent).

 

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Health-care spending expected to outpace economy and reach $372 billion in 2024: CIHI

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The Canadian Institute for Health Information says health-care spending in Canada is projected to reach a new high in 2024.

The annual report released Thursday says total health spending is expected to hit $372 billion, or $9,054 per Canadian.

CIHI’s national analysis predicts expenditures will rise by 5.7 per cent in 2024, compared to 4.5 per cent in 2023 and 1.7 per cent in 2022.

This year’s health spending is estimated to represent 12.4 per cent of Canada’s gross domestic product. Excluding two years of the pandemic, it would be the highest ratio in the country’s history.

While it’s not unusual for health expenditures to outpace economic growth, the report says this could be the case for the next several years due to Canada’s growing population and its aging demographic.

Canada’s per capita spending on health care in 2022 was among the highest in the world, but still less than countries such as the United States and Sweden.

The report notes that the Canadian dental and pharmacare plans could push health-care spending even further as more people who previously couldn’t afford these services start using them.

This report by The Canadian Press was first published Nov. 7, 2024.

Canadian Press health coverage receives support through a partnership with the Canadian Medical Association. CP is solely responsible for this content.

The Canadian Press. All rights reserved.

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Trump’s victory sparks concerns over ripple effect on Canadian economy

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As Canadians wake up to news that Donald Trump will return to the White House, the president-elect’s protectionist stance is casting a spotlight on what effect his second term will have on Canada-U.S. economic ties.

Some Canadian business leaders have expressed worry over Trump’s promise to introduce a universal 10 per cent tariff on all American imports.

A Canadian Chamber of Commerce report released last month suggested those tariffs would shrink the Canadian economy, resulting in around $30 billion per year in economic costs.

More than 77 per cent of Canadian exports go to the U.S.

Canada’s manufacturing sector faces the biggest risk should Trump push forward on imposing broad tariffs, said Canadian Manufacturers and Exporters president and CEO Dennis Darby. He said the sector is the “most trade-exposed” within Canada.

“It’s in the U.S.’s best interest, it’s in our best interest, but most importantly for consumers across North America, that we’re able to trade goods, materials, ingredients, as we have under the trade agreements,” Darby said in an interview.

“It’s a more complex or complicated outcome than it would have been with the Democrats, but we’ve had to deal with this before and we’re going to do our best to deal with it again.”

American economists have also warned Trump’s plan could cause inflation and possibly a recession, which could have ripple effects in Canada.

It’s consumers who will ultimately feel the burden of any inflationary effect caused by broad tariffs, said Darby.

“A tariff tends to raise costs, and it ultimately raises prices, so that’s something that we have to be prepared for,” he said.

“It could tilt production mandates. A tariff makes goods more expensive, but on the same token, it also will make inputs for the U.S. more expensive.”

A report last month by TD economist Marc Ercolao said research shows a full-scale implementation of Trump’s tariff plan could lead to a near-five per cent reduction in Canadian export volumes to the U.S. by early-2027, relative to current baseline forecasts.

Retaliation by Canada would also increase costs for domestic producers, and push import volumes lower in the process.

“Slowing import activity mitigates some of the negative net trade impact on total GDP enough to avoid a technical recession, but still produces a period of extended stagnation through 2025 and 2026,” Ercolao said.

Since the Canada-United States-Mexico Agreement came into effect in 2020, trade between Canada and the U.S. has surged by 46 per cent, according to the Toronto Region Board of Trade.

With that deal is up for review in 2026, Canadian Chamber of Commerce president and CEO Candace Laing said the Canadian government “must collaborate effectively with the Trump administration to preserve and strengthen our bilateral economic partnership.”

“With an impressive $3.6 billion in daily trade, Canada and the United States are each other’s closest international partners. The secure and efficient flow of goods and people across our border … remains essential for the economies of both countries,” she said in a statement.

“By resisting tariffs and trade barriers that will only raise prices and hurt consumers in both countries, Canada and the United States can strengthen resilient cross-border supply chains that enhance our shared economic security.”

This report by The Canadian Press was first published Nov. 6, 2024.

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September merchandise trade deficit narrows to $1.3 billion: Statistics Canada

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OTTAWA – Statistics Canada says the country’s merchandise trade deficit narrowed to $1.3 billion in September as imports fell more than exports.

The result compared with a revised deficit of $1.5 billion for August. The initial estimate for August released last month had shown a deficit of $1.1 billion.

Statistics Canada says the results for September came as total exports edged down 0.1 per cent to $63.9 billion.

Exports of metal and non-metallic mineral products fell 5.4 per cent as exports of unwrought gold, silver, and platinum group metals, and their alloys, decreased 15.4 per cent. Exports of energy products dropped 2.6 per cent as lower prices weighed on crude oil exports.

Meanwhile, imports for September fell 0.4 per cent to $65.1 billion as imports of metal and non-metallic mineral products dropped 12.7 per cent.

In volume terms, total exports rose 1.4 per cent in September while total imports were essentially unchanged in September.

This report by The Canadian Press was first published Nov. 5, 2024.

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