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With the emerging powerhouses of China, India and Brazil rapidly changing the global economy, the Networks of Centres of Excellence (NCE) is funding a new national initiative to help keep Canadian businesses competitive.

The Emerging Dynamic Global Economies (EDGE) Network brings together top Canadian and international scholars in economics, political science, public policy, business and law to work with industry, business associations and governments.

Together, they will identify key economic and social impacts these important new global players increasingly will have on Canada and the world, and help to develop strategies to ensure that Canada plays a leadership role in the new world economy.

"The changes taking place in these emerging economies are so massive that they will affect the international economy in ways we haven't even begun to think about," says the EDGE Network's Director, Debra Steger, Professor at the Faculty of Law, University of Ottawa. "This is the biggest thing since the Industrial Revolution in the 19th century or the introduction of the Marshall Plan at end of the Second World War."

Already, about 50 research institutions and think tanks from across the country and internationally have agreed to participate in the EDGE Network, giving it a critical mass of expertise. They were drawn to this unique opportunity for large scale, public and private sector collaboration on issues relating to the emerging economies.

"There is an urgency about this," says Prof. Steger. "We must move quickly to develop a strategic plan to guarantee our prosperity and standard of living into the future."

In June 2005, the Standing Committee on Foreign Affairs and International Trade released a report warning that Canada's economic activity is too dependent on the United States, which accounts for 85 per cent of Canadian exports and 64 per cent of our foreign investment. It recommended that Canada expand its trade and investment relationships with emerging markets in China, India and Brazil, as well as Russia, the Arabian Peninsula and Southeast Asia.

The EDGE Network can play a critical role in moving Canada closer to this goal. As part of the NCE's New Initiative program, the EDGE Network is receiving $800,000 over the next two years to build a pan-Canadian network, launch a communications campaign designed to encourage informed public debate on these issues, and develop practical training and exchange programs for students, business professionals and government officials. The NCE funding supports the networking activities of established researchers to develop new partnerships with business and government communities.

Research priorities
The EDGE Network will also work with federal, provincial and local governments, as well as the private sector, to determine the practical questions researchers should address. They could include business opportunities in emerging markets, regulatory barriers both here and abroad, and Canada's future role in the World Trade Organization, the International Monetary Fund and other international organizations.

The EDGE Network Founding Partners - Asia Pacific Foundation of Canada - Brazil-Canada Chamber of Commerce - Canada Eurasia Russia Business Association - Canadian Association of Importers and Exporters - Canadian Foundation for the Americas (FOCAL) - International Trade Canada - Shastri Indo-Canadian Institute - York Centre for International and Security Studies - University of Ottawa, Faculty of Law

"The product that we will be producing at the end of the day from this Network will not be a patent or a new vaccine. Our goal is to help Canada develop coherent and effective public policies and business strategies that respond to this new phenomenon in a very pragmatic way," says Prof. Steger, who was the first Director of the Appellate Body Secretariat of the World Trade Organization.

The private sector will play a key role in the new network. Leading companies involved in energy, natural resources, financial services, telecommunications and aerospace have already agreed to participate in the Network, which also has support from several influential business associations.

The energy sector will be a major focus of the Network. China's insatiable appetite for oil and gas, for example, raises significant opportunities and challenges for business as well as environmental and national security issues. China could also provide a challenge for North America's automotive industry, which is already facing fierce competition from Japanese and Korean imports.

"China will have a car that's as good in terms of quality and performance as Japanese and Korean cars within five to ten years. Responding to this requires long-term strategic planning, and too often, businesses tend to focus on short-term results."

Leveraging Canada's Strengths
These emerging economies also create opportunities for Canada to market its know-how. Sustainable development, domestic rule of law, human rights, protection of intellectual property rights, and corporate social responsibility are all issues that countries must address if they want to do business with the rest of the world.

"I don't hear major Canadian companies saying we need new trade or investment agreements. To protect their investments, they're saying that China needs to develop a well-functioning legal and government system that provides security, stability, predictability, transparency and due process of law to protect foreign investment. These are areas where Canada has the expertise, the systems and the models that we can share with the developing world. We need to make these types of contributions that can really help businesses on the ground in those countries."

www.edgenetwork.ca