Three adversaries become three amigos?
In B.C. politics that’s highly unlikely, but with no decisive winner in the May 9 election, that’s what’s needed, especially for the business of running the province.
The election campaign shed light on many areas of the economy that need improvement. There is little doubt, for instance, that people and goods movement, housing affordability and business productivity and competitiveness need attention. Initiatives to retool the province’s economy away from resource extraction dependence to value-added manufacturing and technology innovation are also critical if B.C. is to build the long-term economic diversity that will inoculate it against boom-and-bust market volatility, especially in rural B.C.
Also atop the new government’s to-do list will be trade. The 20% average duties the U.S. levied on Canadian softwood are only the first protectionist speed bumps on what promises to be a difficult road ahead for B.C.’s business prospects in America.
Donald Trump’s threatened hardball approach to North American Free Trade Agreement renegotiations could present far more challenging roadside distractions.
The upside now, however, is that globalization has removed many traditional barriers to international markets.
U.S. protectionism also reinforces the need for Canada to wean itself from American market dependence and proactively build a larger business presence in the wider world.
Softwood markets in Japan and China, technology and energy intelligence and innovation in India and Indonesia present massive growth opportunities for exports. But there are also many business opportunities in B.C. for companies in Asian countries. The provincial government needs to sell those opportunities abroad.
Trade is a mutually beneficial two-way street. That’s the most productive off-ramp that campaign trail buses should be taking now for the good of the province. But the good of the province does not always intersect with the good of political parties. The 2017 election results have the opportunity to ensure it does.
