Abundant opportunities exist for Canadian small and mid-sized businesses in Asian markets, despite slowing growth in the Chinese economy, according to a pair of leading international business experts speaking at the City of Richmond’s 4th annual Business and Partner Appreciation event Sept. 30 at the UBC Boathouse.
“We remain bullish on China” said Geoff Chutter, president and CEO of Whitewater West Industries, the east Richmond headquartered business which is the world’s leading supplier of waterparks and attractions. “We do not see our sales dropping at all.”
Scotiabank chief economist Warren Jestin echoed Chutter’s optimism, noting economic growth in China still remains good at six to seven per cent annually, even as it has slowed from the typical 10 per cent annual growth rate of recent years.
”China is a huge opportunity for Canadian businesses,” said Jestin, noting it is still the largest market in the world, with lots of opportunities for smaller and mid-sized companies selling high value consumer products and services.