For­mer PM says Trudeau strik­ing right bal­ance

The Hamilton Spectator - - CANADA & WORLD - DAVID PADDON

TORONTO — Canada should work to strengthen its ties with China and other coun­tries while en­sur­ing it main­tains a good re­la­tion­ship with the United States, for­mer prime min­is­ter Paul Martin said Tues­day.

While Prime Min­is­ter Justin Trudeau has sought to deepen Canada’s ties to China, he’s also build­ing a re­la­tion­ship with U.S. Pres­i­dent Don­ald Trump who has taken an anti-China stance in many of his com­ments.

“The Trudeau govern­ment should do ex­actly what it’s do­ing, which is to look to our needs,” Martin said in an in­ter­view with The Cana­dian Press.

“And our needs re­quire, ob­vi­ously, that we have good re­la­tion­ships with the United States and, ob­vi­ously, that we should es­tab­lish sound re­la­tions with other coun­tries — in­clud­ing China.”

Martin said pen­sion re­form is one of the ar­eas where Canada and China have com­mon in­ter­ests, be­cause each faces the challenge of a re­tire­ment pop­u­la­tion that’s grow­ing faster than its work­force.

“We have an ag­ing pop­u­la­tion and we, ob­vi­ously as a coun­try, have to deal with it,” he said.

Canada and China will each have only about 2.5 work­ers per re­tiree by 2046 — com­pared with Canada’s cur­rent ra­tio of four-to-one and China’s ra­tio of about seven-to-one as of 2016, ac­cord­ing to the Canada Pen­sion Plan In­vest­ment Board.

Martin made his com­ments fol­low­ing the of­fi­cial launch of a Chi­nese-lan­guage edi­tion of “Fix­ing The Fu­ture,” a 380-page book about the cre­ation of the CPPIB in 1997 while he was fed­eral fi­nance min­is­ter.

The CPPIB’s fund has since grown to nearly $300 bil­lion — mak­ing it the big­gest re­tire­ment fund in Canada — although it shares the world stage with re­tire­ment funds man­aged by Que­bec’s Caisse de de­pot and the On­tario Teach­ers’ Pen­sion Plan.

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