It’s time to take the opportunity of US-China tech war – Canada is ready

8 May 2020- There is a roller-coaster of events happening between the USA and China. Covid-19 outbreak from Wuhan was the catalyst for bad economic relations between the two countries. Japan’s authorities were first about the statement – they want to take manufacturing and tech start-ups from China and let them give space in Japan. The same scenario should happen in Nigeria. The Nigerian government has to take advantage as the start-up industry is growing every year. In 2019, Nigeria-based start-ups have raised more than 100 million USD. It’s a big success for countries like Nigeria but there is room for improvement, especially in the current eco-system where big global changes are likely to happen. Canada is already taking advantage and Nigeria can learn the lesson from Trudeau’s office decisions.

The United States and China trade war gives several benefits to Canada. Britain’s exit from the European Union made changes to Canada as well. The technology landscape has undergone remarkable alterations. These include changes to the stock market and technology companies in general. Although Silicon Valley remains as the technology capital of North America, Canada competes with the benefits it receives from the trade ban and Britain’s exit.

The Digital Charter is a Response to Canada’s Growing Tech Industry

Canada’s government responds with its technology industry’s increase in performance by creating the Digital Charter. The charter is towards the protection of data security and technology use. The government included several criteria that are concerning their citizens when they are creating the authorization. They want to gain the trust of their people, even if the trade war is ongoing.

Ten principles are in the Digital Charter. Control and consent of use, safety and security, and transparency are some of the essential tenets indicated on the charter.

The creation of the Digital Charter is timely because of Canada’s changing digital environment. The charter promotes equality in terms of opportunity for data usage, as long as it is legal. The government is serious when it comes to passing the Digital authorization, and anyone who commits illegal actions is punishable by law.

Canada has shown the sign of being open to new opportunities. Canada’s government, in general, is always open for tech and crypto advancements. Digital charter has changed the way Canadians look at the digital economy. There has been a successful wave of digital charter and it influenced many digital industries such as gaming, crypto, and mobile. The digital charter was influential for iGaming space in Canada. The industry has changed a lot since 2017. Digital charter made it possible to implement the latest technological achievements and get more attention from the worldwide market. Canada’s government wants to have the biggest digital economy in the next decade, so it’s very important to have attention from the worldwide market. Canadian iGaming platforms became popular as the government gave them rights for many things including Bitcoin, creating mobile versions of platforms, installing different financial technologies, etc. The first big change happened in 2017 when local online casinos allowed to receive and send a transaction in Bitcoin. BTC was the first cryptocurrency that got recognition from Canada. The positive characteristics of Bitcoin had a big impact on the worldwide dominance of Canadian casinos. Canadian casinos started to offer online blackjack, poker, and other casino games with Bitcoin payments. Bitcoin was just the start as the government continued implementing digital charter with better app devices, financial technologies, and working on a 5G network. Canada is back in the top ten economies as a country lost the spot a few years ago. The eagerness of the government is something that every million/billion company wants.

China Trade Ban and Britain’s EU Exit Gives a Boost to Canada

Britain’s farewell to the European Union granted Canada a lot of advantages. Canada has a long history with Britain, both political and economic, and both countries are also business partners in good terms.

Britain is one of Canada’s investors, and in fact, it is Canada’s second-largest and most significant investor. 100,000 Brits have also enjoyed jobs in Canada.

Brexit imposes several challenges, according to the tech company CGI, Inc., so they have sworn to help their clients that are affected. The company, therefore, decides to keep its U.K. office open.

CGI, Inc. is expecting an increase in the demands of their services. These changes happen because of the new rules on implementation that causes the government to take measures.

The technology industry isn’t just the sole benefactor of Britan’s EU exit. The e-sports industry benefits the changes the Canadian government imposed. The gambling industry, on the other hand, now surpasses U.K.’s.

Brexit and Trade Ban’s Direct Effect to Canada’s Tech Industry

The Canadian economy won’t suffer significant impacts, assures President Trudeau. The combined effects of Britain’s trade exit from the EU. Trade issues with China benefit Canada’s technology sector. Stocks related to tech is also experiencing an increase.

Some vital technology stocks to look into a Shopify, Open Text, Lightspeed POS, and CGI, Inc. These four companies are performing well and are also receiving a needed increase.

Canada’s export is taking a hit because of the China ban. The U.S., however, took these exports, which makes them Canada’s leading export partner. This business relationship is beneficial for both countries, according to sources. A 2.1% increase in Canada’s export in 2019 is also added evidence to this claim.

The trade ban severed business ties and has affected both the U.S. and Canada. The two countries, however, started to make their bonds steady trough the help of the export market the help them with the trade war effects.