By the turn of the 20th century, Canadian banks were moving south to keep up with growing business opportunities in the Caribbean, Central America, and South America. A century later, only a handful of Canada’s biggest companies are actively engaged in business in the Southern Hemisphere. For its part, the Canadian government recognizes this is not an opportunity to be overlooked in favor of India or China. Calgary is hosting the annual meeting of the Inter-American Development Bank.

QUESTIONS:

1. The opening paragraph of the article highlights specific reasons for Canadian bank involvement in Central and South America. That was more than a century ago. What are the arguments for greater involvement in those areas today?
2. The article discusses why Canada is not more involved in Central and South America. Is this a lack of cultural intelligence? The Canadian government has taken steps to remedy the situation. What should Canadian businesses do?
3. After reading the article, what strategy(ies) would you recommend to a company that wanted to take advantage of the opportunities in Central and South America?

SOURCE: K. Carmichael & T. Grant, “South America: Canada’s Forgotten Continent,” Globe and Mail (Retrievable online at http://www.theglobeandmail.com/report-on-business/economy/south-america-canadas-forgotten-continent/article1957537/)