Asian Impact Shaped 2005

In October, the federal government announced it would contribute $590 million over the next five years to help B.C. implement its Pacific Gateway plan. Initial funding was slated for the construction of railway crossings, the replacement of bridges and the improvement of roads around container ports. Politicians and industry experts have warned that B.C.'s ports are woefully ill-equipped to cope with a massive spike in trade volume expected in coming years. The province's three main ports are expected to handle $75 billion in trade by 2020, more than double the current amount, according to the provincial government. Aside from the promise of new infrastructure, the adoption of B.C.'s Pacific Gateway strategy also signalled a shift in the way politicians and industries here view the Asian market, said Yuen Pau Woo, president of the Asia Pacific Foundation. "The idea of the gateway has infused into other parts of British Columbian society and provided the impetus to think about Asia as part of the province's economic future," Woo said. http://www.canada.com/vancouversun/news/business/story.html?id=795621e6-1088-43de-a5b4-c78f7930a622&k=68629

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