Thursday, March 30, 2017

Getting in Bed With a Dragon

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.
Canada’s need to attract foreign capital and China’s desire for strategic investments abroad are playing an elaborate game of cat and mouse.

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...)


How much have the Chinese invested in the Liberal Party of Canada? Is the real difference between political parties a matter of who they've sold their souls to?

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