The future of globalisation? Less economic dependency on China, Canada’s Freeland hopes

Countries having cautious reliance on China while maintaining constructive engagement is essential to the future of globalisation in a world where trade is increasingly used as a weapon, according to Canada’s former deputy prime minister.“In a world where the weaponisation of trade is real, we need to be thoughtful about where we’re building economic dependencies,” Chrystia Freeland told the Peterson Institute for International Economics during a discussion about the securitisation of trade and the future of globalisation on Wednesday.Freeland endorsed European Commission president Ursula von der Leyen’s on de-risking economic ties with China, expressing the need for a global economic system “in which China works” but other countries’ vulnerabilities are limited.“Seeking a constructive relationship with China, where possible, is the appropriate stance of the international community,” said Freeland, who is currently an adviser to Ukrainian President Volodymyr Zelensky.“Even in business, no business likes to be dependent on a single customer, even if the customer is your great friend. I think for all of us to de-risk is a good idea.”‘We have a deal’: Trump claims breakthrough after ‘12 out of 10’ talks with Xi Jinping‘We have a deal’: Trump claims breakthrough after ‘12 out of 10’ talks with Xi JinpingFreeland was Canada’s deputy prime minister from 2019 to 2024, serving the Liberal Party under then Prime Minister Justin Trudeau. She also served as Canada’s finance minister.