But for all the panic, the consensus among experts is that China is still a great opportunity for Ottawa business.
Our CEO, Bruce Lazenby, breaks down the reasons why on CBC Ottawa Morning:
Consider the following growth in the Chinese markets over the last 5 years:
Sophie Chen, the Business Development Manager at Invest Ottawa who keeps an eye on the Chinese market, says even with the drop – the market is still up substantially over past years. As the Chinese economy transitions from a heavy manufacturing to a knowledge based one, the market will continue to fluctuate. Chen adds:
“This downturn will offer opportunities for our innovative companies, as Chinese government is hungry for more innovative technology, to in turn help them successfully complete this economic transition. Though we have seen some fluctuation in the stock market recently, the overall economic growth in China is still 7% and they are still the 2nd largest economy in the world.”
Read more about breaking into China.
Here’s how we can help connect your business to other international markets.