The Bank of Canada will continue to watch developments in China closely, given its importance to the global economy and Canada. China’s transition poses risks, and Canada is well positioned to manage them. At the same time, lower prices for oil and other commodities mean that Canada is going through its own complex adjustment.
In these countries, it was necessary to introduce certain basic minimum requirements first, such as a recognised system of business laws including corporate, bankruptcy, contract, consumer protection and private property laws that can be consistently enforced and will provide a mechanism for fair resolution of disputes.