Finance Minister Jim Flaherty: China

China Dept: Forgoing the more traditional post-budget trips to Wall Street or across Canada to sell a budget to Canadians, Flaherty destination signalled both the origin of much of Canada recent diversity and indications of our future, according to Calgary Herald. While China and India GDP will still have a long way to go on a per-person basis to surpass the Europeans, the Americans or the Japanese, the very fact that the Chinese and Indian economies will be the largest in several years time is a profound reminder that Asia has gained an increasingly larger share of a growing world economy and When federal Finance Minister Jim Flaherty recently boarded a plane for Asia and not America, after his recent budget, the minister signalled a not-so-subtle shift in Canadian priorities east and not south. Consider that the Organization for Economic Development recently mused on the future of the world economy and noted the following: Within one year, China economy measured by purchasing-power parity will surpass the European Union. Within the next three years, China will likely surpass the United States, thus making China the world largest economy by 2016. Meanwhile, India economy is set to overtake the size of Japan economy in about two years. (www.immigrantscanada.com). As reported in the news.