Ventures Dialogue

“Canada will lose out in the global quest for talent in the knowledge-based economy unless it updates some of its ideas and policies on immigration.“  This is the first line of a bulletin by the Asia Pacific Foundation of Canada, which speaks to two recently published studies about Canada and retaining international talent.  The first, “A Limited Engagement: Mainland Returnees from Canada,” delves into how international student exchanges and overseas education by people from mainland China contribute to the exchanges between Canada and China.  Three main questions were asked.  First, how do the returning students feel about Canada and how they feel about their Canadian educational and work experience?  Second, to what degree do returning students maintain contact with Canada and why?  Is there a pattern that explains this behavior?  Third, what importance is the Canadian experience to the returnee’s life?  

The second study, “Transnational Entrepreneurs as Agents of International Innovation Linkages,” focuses on brain drain or brain loss, the concept in which countries lose their smartest and best educated citizens to other countries which can offer better economic and political lifestyles.  Specifically researched were those innovation linkages of migrating internationally educated mainland Chinese professionals who do business in both Canada and China, but maintain Canada as their base. 

Both studies outline that there are tremendous advantages to engaging foreign talent. However, they also highlight that to benefit Canada as well as their home country, Canada as a whole should be doing more to retain connections with foreign students and entrepreneurs.  Suggestions range from creating a Canada-based innovation and entrepreneurship program to empowering Canadian consulates to better engage the returnees.

Photo by  noticelj

Now back in Canada after a busy and satisfying trip, I thought I’d share a few more impressions of Hong Kong.

One of the clear differences between Hong Kong and Canada is the sheer number of people in a relatively small place.  The population of about 7 million lives in a small part of Hong Kong.  As I said in my first post, it has caused the city to build up instead of out.  Schools for instance, occupy buildings of multiple floors.  The Canadian International School which I’ll write about in a later story, has 9 floors and is built on a narrow piece of land.  Stores and restaurants can be found on upper floors of a building which give no hint as to commercial space on the ground floor levels, leaving you to wonder how people ever find them. 

In fact, there are stores and market stalls everywhere.  I’ve never seen so many.  Every luxury brand in the world appears to be present in the market, with many locations throughout the city.  Local businesses sell every kind of product imaginable in what, not unlike in Toronto, seem to be themed areas.  For instance, from the window of my car, I observed an area with nothing but sewing items:  buttons by the thousands in one block, fabric swatches displayed from floor to ceiling in another, tiny commercial spaces filled with spools of threads of every colour.  In another part of the city one tiny store after another was displaying lighting fixtures of every shape, colour and size, and so on.  The photo above is from the open market stalls in the SoHo area which sell meats and vegetables as well as other merchandise. Continue reading ‘Parting impressions of Hong Kong’

Yesterday on VENTURES, we outlined the vision of Ontario’s new International Trade and Development Minister, Sandra Pupatello. This is part two of that series.

The rise of developing countries as trade partners was a key topic of discussion at the Ontario Economic Summit, held at White Oaks Resort in Niagara on the Lake from Sept 30 – October 2. Andrew Burns of the World Bank provided an eye-opening presentation about the increasing fortunes of developing countries and the trade opportunities they present for Canada.

Burns explained that all developing countries have been increasing their Gross Domestic Product (GDP) for over fifteen years (1980-2007). The rise of China as an economic power is well known, but it is not the only developing country that has increased its economic conditions; Africa, for instance, was referenced throughout Burns’ discussion.

Burns explained that by 2030 imports from developing countries will constitute roughly 42% of world trade or twenty trillion dollars. Burns pointed out that developing countries are growing twice as fast as the developed countries. Africa, for example, underwent tough economic times when numerous countries gained their independence and there were disruptions to government structures. However, since 2000, Africa’s GDP has been growing at over 5% per year, due in large part to policy reforms, a trend Burns does not expect to change in any way. Burns described the growing middle class as a large group of “young, dynamic, empowered people who are shaping global trends.”

On the other hand, Burns explained that Canada has not been progressive in pursuing the untapped trade opportunities in foreign countries outside of the United States.  About 80% of Canada’s exports are destined for the United States, but just 9% to developing countries.

Tomorrow, we’ll share the experience and advice of three successful businesspeople who have managed to make a global impact, proving Canadian companies can compete with the world.