The China-Canada trade deal and allowing buyouts by state-owned enterprises from countries like China are clearly not in the national interest nor popular.
This week, a casualty of China’s unfair treatment of foreign investors spoke privately about the new trade deal signed between Ottawa and Beijing. His mining company was there, spent millions and was forced to sell, a de facto expropriation, to a Chinese “company.”
Sovereign-owned or controlled enterprises from questionable countries have no business in the boardrooms of Canada or other free enterprise nations.
If the CNOOC/Nexen takeover approval is given before the Keystone pipeline is approved, a new set of questions for the Americans will be opened up. So will any trade deal, now in Parliament, that gives China similar privileges as Americans get.
Canadians should be upset and insulted that China’s biggest grab for control of a major resource company anywhere in the world is the $15-billion Nexen deal.
Tianjin is the fifth largest port in the world, and one of China’s five designated “national cities”. Today the metropolis has grand boulevards, hundreds of towers, sculptures, massive arts complexes, shopping areas and a grand canal with bridges that resemble those in Paris and London.
The proposed takeover of Nexen Inc. by China National Offshore Oil Company, or any other like it, cannot be allowed.