|A Nexen oilsands facility near Fort McMurray, Canada, is seen in this aerial|
photograph.. Nexen was sold to China’s CNOOC Ltd. in December 2012.
Business ties between the two are deepening. Canada and China are currently engaged in free-trade talks and Canada proposes to invest $256 million over five years to join the China-led Asian Infrastructure Investment Bank (AIIB). Two years ago, the two countries opened the first North American renminbi trading hub in Toronto.
The Globe and Mail recently reported that as part of China’s free-trade talks with Canada, Beijing seeks “unfettered access for Chinese state-owned firms to all key sectors of the Canadian economy.” But experts say state-owned enterprise (SOE) investment disadvantages Canada from both economic and—coming from China—ethical perspectives.
“When it comes to Chinese investment, the biggest issue is state-owned enterprises,” said Jack Mintz, President’s Fellow of The School of Public Policy at the University of Calgary, in a phone interview. (more...)
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