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

Former Canadian Deputy Prime Minister Chrystia Freeland stated that the future of globalization requires countries to be cautious about economic dependency on China, particularly as trade is increasingly weaponized. Speaking at the Peterson Institute for International Economics, Freeland endorsed the idea of "de-risking" economic ties with China, advocating for a global economic system where China participates but other nations limit their vulnerabilities. She emphasized the importance of maintaining a constructive relationship with China where possible, while also recognizing the need for diversification to avoid over-reliance on any single economic partner. Freeland, who also served as Canada's finance minister, highlighted that even businesses benefit from not being overly dependent on one customer. Her comments reflect growing concerns about the securitization of trade and the need for a more balanced global economic landscape.

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