Give and take urged for trade benefits

Canada does not have to sacrifice its values to pursue interests with China and vice versa, said a Canadian tech executive and president of Alibaba Group.

"You just can't expect China's going to adopt your values, and I think this is particularly a problem," said J. Michael Evans, president of Alibaba Group, at a recent business forum hosted online by the Canada China Business Council.

"In the West, when they look at China, they say China doesn't do the right things that the West wanted. But China is not trying to get you to adopt their values, so you shouldn't try and get them to adopt your values."

As a senior manager who has worked for multinational organizations all over the world, Evans said there is a wide diversity of values among countries, but they should find a way to navigate that so they can pursue their interests.

Holistic strategy

"I think another mistake that Western countries make is not having a holistic strategy. For the relationship with China, a lot of them just focused on trade. But there are so many other opportunities in education, healthcare, tech, innovation, capital investment, infrastructure and the environment. Those are all things that China cares about too," he said.

"I also have more faith in humanity globally and rational understanding of what needs to be done in order for the two largest countries in the world not to wreck the opportunity for everybody else, including Canada. So, I'm cautiously optimistic, notwithstanding the challenges that are in front of us."

With regard to the 2020s and a different age in Canada-China relations, Evans stressed that China is going to probably be one of the most significant players in Canada's future.

"I think, as I have for a long time, that the US will always be important. But in many respects, Canada needs China as an offset to the US. And they're perfectly positioned to take advantage of that. So, what has to happen is the country needs to define the relative strategic importance of China to Canadians," Evans added.

Mark Wiseman, chair of Alberta Investment Management, said it is a mistake to suggest that an economic wall be put up between Canada and China after the case of Huawei Technologies CFO Meng Wanzhou in Vancouver and that of two Canadians in China.

"Because first of all, I think we would harm ourselves as much as anybody else. Secondly, I think more connection is better than less connection, and there's a mutual interest," Wiseman said.

From an investment perspective, Canada has a small capital base, representing only about 2.5 percent of global capital markets. For that reason, Wiseman said Canada needs to seek opportunities for its capital.