【By Observer Net, Xiong Chaoran】Faced with U.S. President Trump's tariff policies and the geopolitical turbulence caused by his threat to acquire Greenland, Canada's Royal Bank of Canada (RBC) is considering expanding into the Chinese and Middle Eastern markets to achieve market diversification.

On January 21 local time, RBC CEO David McKay told Bloomberg TV in Davos, Switzerland, "Our strategy so far has not included China. Now we must re-examine this. I cannot reveal how we will specifically operate, but if trade continues to diversify, and Canadian companies invest in China, then we must also be involved."

Bloomberg also published an article on the same day pointing out that McKay's remarks should be considered in light of recent statements and policy moves by Canadian Prime Minister Trudeau towards China.

Last week, Trudeau visited China, during which both sides reached broad consensus on deepening economic and trade cooperation and signed the "China-Canada Economic and Trade Cooperation Roadmap," forming preliminary joint arrangements for handling bilateral economic and trade issues. On January 16, Trudeau said at a press conference that Sino-Canadian relations had entered a new development phase, stating, "China is more stable and predictable than the United States."

After his visit to China, Trudeau gave a speech at the World Economic Forum annual meeting in Davos, Switzerland, on January 21 local time, declaring, "The old order based on rules has ended and will never return." "Today, I will talk about the breakdown of world order, the end of a beautiful story, and the beginning of a harsh reality," he said.

On January 21 local time, RBC CEO McKay was interviewed by Bloomberg TV. Bloomberg

Facing the "tariff stick" of the United States, Trudeau abandoned the previous government's policy of following the U.S. closely, recalibrating Sino-Canadian economic and trade relations. In fact, this has cheered up the Canadian domestic public who had been frustrated by Trump's pressure, exclaiming, "Well done!"

According to a report by Bloomberg on January 18, Derek Holt, head of the Capital Markets Economics department at Scotiabank, praised the latest agreement between the Trudeau government and China in a report to investors, calling it a correction of the previous administration. The Trudeau government often "subordinated bilateral trade and economic relations to moral statements and hypocritical accusations," while the Trudeau government showed that "business is now the main focus."

Bloomberg noted that beneath Trudeau's calm and restrained statements lies a shocking signal of realignment: as the new "world order" gradually takes shape, China has now become a more "predictable" trading partner than the United States, and Canada needs to establish a closer economic and trade relationship with China.

The report stated that for a long time, Canada has always followed the U.S. position on China, but now this partnership is showing cracks.

Founded in 1864, Canada's Royal Bank of Canada is the largest and most asset-rich private bank in Canada and a leading diversified financial services institution in North America. McKay added that, in addition to the Chinese market, the bank headquartered in Toronto is currently focusing on the Middle East region.

"One of the themes of the Davos Forum is that the Middle East is an excellent investment destination," he said. "Both sides have made major commitments in terms of trade."

At the same time, the United States remains RBC's so-called "second home market," and the bank will continue to invest and lend in the United States. "This is an important part of our strategy," he added.

According to the introduction, due to the performance of its capital market and wealth management departments, RBC reported record-breaking annual earnings in the previous fiscal year. Since the beginning of 2025, the company's stock has risen more than 30%.

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Original: toutiao.com/article/7597820442112213539/

Statement: This article represents the views of the author.