While Trump shakes up the global economy, this might be the prime moment for smaller market economies, like that found in the country of Canada, to rebrand themselves as a unique and perfect model for economic growth.
While countries that are home to smaller markets that are very dependent on global trade, President Trump has taken actions against what he deems unfair trade practices and has begun what looks to be a global trade war. This activity makes it difficult for smaller markets, like that of Canada, to plan their course to help their own economy thrive and ensure the welfare of their citizens. This is actually a pivotal moment for these types of economies and rather than hoping this storm passes, they should instead take action to build on this opportunity.
The best thing that can be done in this situation is to play the long game in the global economy. This landscape is ever changing, and it is a prime moment for them to rebrand themselves and build themselves into a brand that offers value and a prosperous future. Now that President Trump has withdrawn the United States from the TPP and is threatening to withdraw from NAFTA, other nations have an opportunity to swoop in and fill a void.
Some nations are dragging their feet under the assumption that this will pass, others are beginning to claim that globalism is dead, but nothing could be farther from the truth. Canada is home to the CETA, Canada-European Union Comprehensive Economic and Trade Agreement, which is approved and currently being implemented. It will once again establish the Asia-Europe Silk Road trade route from the past. This type of collaboration is exactly the opportunity that is there for smaller nations looking to make money in the global market. With a big player withdrawing and imposing tariffs, a new player in the game could be just what the market is seeking. For more detailed information on this topic, head to Huffington Post.