Is Canada for sale?

Question

What are the ramifications of Canada having too many foreign investors? What are the positives? As a country rich in natural resources and a world on the verge of an energy crisis, what kind of price will we pay for selling off our country? From business leaders to the public, should Canadians know more about its foreign investments?

In my latest book, Who Owns Canada Now, I’ve examined both sides of the debate: the economic nationalists who want Canadians to own Canada’s economy and the capitalists who believe that protection is a legal, not economic, issue. You can read more about the background to my question in this excerpt: http://www.harpercollins.ca/global_scrip…

Answer 1

Best Answer - Chosen by Asker

There is an old savy business expression of, sell the "fruit" but not the "tree". I feel that Canada has been selling too many of our precious trees, including control, that bear the sought-after fruit. Our government needs to re-think AND ACT to preserve our valuable trees and entice foreign interests to share in the growing of the fruit.

Canada is rich in resources but we are being harvested and taken advantage by foreign governments and corporations. The Governments of Canada, including Feds, Provs, and Territories, need to collectively and expeditiously review the Foreign Investment Act and limit the harvesting of Canada's valuable trees.

You need not look far to the East to see another savy Government (i.e., China) has instructed their corporations to go forth and invest in the rich resources of other countries, while the Chinese Government saves their resources for the rainy days or drought season of the future.

We still need investment in Canada, including foreign sources, to nuture opportunities and create jobs, but we should be smart in how we allow our trees to be cultivated, versus removed physically or from our control.

Unfortunately, we dont appear to have the leadership or team spirit amongst our Canadian Governments to come with a strategic and coordinated plan across our great but diminshing country...Happy Canada Day to my fellow Canadians from coast to coast!

Asker's Rating:

Asker's Comment:

Thank you for your response!

Yahoo! Canada Answers Staff note: This answer personally chosen by Diane Francis.

Answer 2

I bid 5 dollars...

Don't you kind of thinking selling off it's resources is one of the only advantages a country like Canada has in the world. What with being the second largest country in the world but the smallest population of any of the wealthiest countries in the world.

Answer 3

In a world where people are fighting over far less, I think Canada should be more careful about foreign investment, selling off our resources and protecting the wealth that we have. Maybe that's the wrong way to look at it but how hard would it be to balance the environmental concerns we currently have with the concerns of big business?

We've all seen the mess the United States has gotten themselves in financially by allowing big oil to control more than they should, and shouldn't we learn from their mistakes?

I think I'm asking more questions than actually answering the one Diane Francis has posed. I guess my answer would be to ask that the government be more involved, and I suppose that puts me in the socialist side of the equation, if only to realize that greed might not be the best way to drive an economy if 10 years from now we're all starving, our cars are rotting in the driveway with no fuel to power them, and our children can't drink clean water.

But then again, maybe I'm overreacting.

Answer 4

I feel that the Canadian government is weak kneed when it comes to holding on to resources for its people. They don't seem to realized that it is not theirs to sell, but is held for the collective citizens. We are living that will be owned by foreigners if we are not careful. Then we will have no say whatsoever. But then, we have no say now. The government usually goes ahead and does what it wants, before they ask the people as a token gesture. Government rides roughshod over the people. Government is their own peoples worst enemy.

Answer 5

This country's policies on Free Trade has not benifited us to the degree that we envisioned..Selling round wood instead manufacturing goods, shipping ore instead of smelting into a product, tying our whole economic wellbeing to another country, is an abrogation of responsibilities by politicians and greediness on the multinational companys that were allowed to operate in Canada.
Canadians do not control any facet of the raw natural resource . We make laws that are compatable and benificial to the foriegn owned companies and are convincingly lied to.
Sustainability in forests is one of the larger crocks we hear. We are a nation more regulated than any other . We tie our own hands with red tape and accomodate the mulinationals.
It's a good thing that we canadians are as complacent and gullible and 'peace' loving as we seem to wish to project to the rest of the world. "Ignorance" does provide a buffer to reality.

Answer 6

Is Canada for sale? Lets look at Canada Day as an example. Why are companies closing Monday and staying open on Tuesday. Would you move Christmas or New Years day to a different date? Would the Americans stay open for business for the 4th of July? The answer is no. There is little or no national pride in Canada. Companies will stay open on Canada Day to make money and there will be few flags in sight. Canada is indeed for sale and I hope who ever buys it will give us something to be proud of.

Answer 7

Seeing as part of the free trade agreement states we sell 70% of our oil to the U.S. it seems we are. I don't think we should be, we should take care of our own then sell the surplus later. Our water will be next....

If we insist on selling off all our natural resources, we sure as heck aren't charging enough!!!

Answer 8

There is no question we are allowing huge take-overs of many of our natural resources. As with the oil crisis, profit is placed before good economic planning. Perhaps weak governments are to blame for not applying the brakes. I feel sure the future of Canada is in peril unless we stop hungry resource countries like China, India and Russia, plus rich Middle East countries plundering our vital resources.

Source(s):

Ex business man

Answer 9

It is a capitalist maxim that the benefits of anything go to the owners of it.

When you sell raw materials to be transformed into products by cheap labour and then bought back, then all you are doing is exporting wealth and importing poverty.
It is not something you should be doing if you can avoid it.

In addition to that, what are you going to do after your raw resources are gone.

This selling off of everything you can cut down or dig up instead of developing your economy is exactly what colonialism is about, and is just a third world economy.

People are often confused about underdeveloped economies.
An actvely underdeveloped economy can be very rich for a while, but all the roads transporting wealth go to ocean ports and the wealth eventually disappears over the ocean horizon.

The action of our government in the case of Alberta oil companies was driven by USA interests and their influence over our branch plant of a Government.

If you mention foreign ownership of oil companies here in Alberta people think you mean any owner other than USA, including Canadian ownership.

I think we are selling our country out from underneath ourselves and not even getting a fair price for it.


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To make one point before I quit.
You can tell more about a country's economy by looking at a roadmap than you would expect.

A developed economy has a well balanced transport system with many connections between its cities, it looks like a net.

An underdeveloped economy has the major links of its transport system all to ports and few to anywhere else, it looks like a tree's feeder roots.
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days later:

I came back to read other comments and realized that we frame it in terms of raw resources. I did that myself.
I did not intend to, but it is the concrete example.
The problem about foreign ownership is not just in raw natural resources. It is about our manufacturing and financial resources too.
It is affecting every sector of our economy. As I said at the start of my answer, the benefits of ownership always go to the owner.
This means the money, yes, and the political control too.
One of the reasons that the Harper Conservatives (Reform Party) got into power was our business sector's the desire to appease the Republican Govt of the States.
If you can remember the last Election we had the US Ambassador threatening trade sanctions, and the threat of their businesses creating mass unemployment if they did not get the Govt they wanted.
As you lose ecomomic control you lose political control too.

Answer 10

Yup, I'm buying it.

Answer 11

No canada is not for sale. britan ows it because it won the war. thats why the bills have gueen elizabeth.

Answer 12

Yes it is. I was asking $10, but because I like you, I'll sell it to you for $5.

Answer 13

The border lines of a growing list of nations are vanishing. Free trade will continue to influence national sovereignty and wealth--- both strengthening and weakening it. We are, for better or worse, at the mercy of a ubiquitous, invisible economic force, one manifestation being free trade, a logical extension of democratic principles as applied to economics.

Foreign ownership is one consequence of a pure, global democratic economic principle. Some loss of sovereignty and control of resources is inevitable.

It troubles me that we are losing the ability to offer a "Made in Canada" product to the world, and that we rely, instead on ripping up the ground and dredging the seas in a big sell off of real, undeveloped capital. And we don't even do the work!

It reminds me of those "U-pick" farms one might see on a country road trip, some summer afternoon. You do the work and hope to get a better price on the purchase. In Canada, it is getting that we have others do the pickin, but we often let ourselves get "ripped off"in the transaction.

Having others rape our land while we expect a national heritage entitlement makes us become indolent, decadent and spoiled and reliant on the nanny state. We expect too much for our efforts and eventually price our handiwork out of the market!

Thanks for the question Diane! It is one that we need to be imaginative yet frank in answering. However, It might not be quite appropriate to plug your book in this forum.

Answer 14

yes, it's been for sale as long as it can remember. price varies... what we can charge!.. and what we offer...

Answer 15

I'd be surprised if we even still own the rights to the Canada flag or national anthem.

Answer 16

Anything is for sale for the right price..........But it would be a real shame if Canada was owned by non-Canadians.........How would you feel if 'your' house was not owned by you?...........We should do our utmost to keep what we have and prevent it from being exploited and used for the benefit of foreigners...........

Answer 17

Our illustrious Prime Ministers have had our country up for sale for years. It's hard to tell where Canada starts and the States end. Japan owns the 407 and raises the rates extremely high. The states own so much of our property that it is disgusting. We are Canada! We are unique and our government has no right to sell us off at any price. China's products are killing us off a little at a time and the PM doesn't want to do anything about it. I guess he is afraid to make an enemy there. I say it is an enemy if it can sell us things that make us sick or die. I could go on but it makes my blood boil to think that this and things we don't even know about, are happening to our great country.

Source(s):

TV, Newspapers, personal experience

VERY PROUD CANADIAN

Answer 18

Is Canada for sale? Yes, it generally is and should be. It's called being open for business. In particular, the notion that water should never be sold is quite amazing. Why not sell our water to the Americans for lots of money instead of wasting it by letting it flow into the oceans.

Well, any 1st year economics book says free trade increases world productivity, and increases in productivity increases wages. Free trade includes goods, investments, and I dare say labour.

Economies work despite nationalistic protectionism not because of it. We need international regulations for goods, investments, and labour, since national governments have shown the tendency to act in bad faith, using regulations to stop foreigners only because they are different. The problem is the us versus them attitude.

Since all economic reasons are false, the only reason to stop foreign investors from investing in Canada is the same reason for restricting workers from immigrating: xenophobia.

Answer 19

Canada invests in Foreigners who the Government bring into this Country as "Refugees"- COLLECTING $1300 a month and A HAND INTO our Health Care. We have no "Zero Tolerence" laws, when these people break OUR LAWS they arent shipped back! When they CHOOSE NOT TO WORK, tax payers pay for THEIR WELFARE! Far to many come from Countries that see Women as SECOND CLASS citizens and have an over all hate for "White" people.
This is the Foreign Investment Canadians SHOULD BE WORRIED ABOUT!!!

Answer 20

I've been wondering that for quite some time! And yes Canadians should know a LOT more about what's happening to their country but how often are these types of things done transparently and overtly?

All the banks on the west coast are owned by Asians. Most everything there is foreign owned and has been for quite some time (thus the "booming" economy) booming because that's where all the foreigners settle and build and invest.

I am really concerned about the number of foreigners buying off our oil industry and other major corporate assets frankly and how rapidly it's all being taken over.

So with three major oil companies bought out in Alberta (by Arabs?), and more in mind, would that ownership account partly for oil prices skyrocketing too? I don't think it's just co-incidental.

Russia has (and continues to take) quite a piece of the pie too doesn't it? It's also been sniffing around the Arctic too, staking territory. Whatever happened with that? That concerned the PM enough to immediately take action and fly out there too. So what are all these Arabs and others up to and why are we letting them invade and take over our country and especially OUR OIL?? How long before it's theirs or is it too late already? Russia wants to buy out Petro Canada? Where are we going wrong here?

Predators is a pretty bang-on definition to describe these take-overs if you ask me but I hope our government is finally wising up and seeing that they won't be controlling much of anything if they let this type of thing continue.

You are right that open economies like ours should be worried. We are very naive and must really start taking these seasoned global players very seriously here and protect ourselves from these types of predators from taking over our country indeed.

We have the greatest resources in the world and it's time we get with the program here.

Our steelmakers have all been bought out by foreign owners, many of our other precious metal mines, Magna Corporation (auto parts) is Russian owned, most of our major corporations are up for grabs, so just who is left that is Canadian owned?

How can we be foolish enough to think that our country's laws alone will stand up to protect us when our economy is at the mercy of foreigners who control it all and will soon use that clout to persuade government to do their bidding like our neighbours south of the border here?

We've forgotten that we have two HUGE nations (Russia/China, as well as the Arab world) who have billions upon billions and are eating up our country little by little.

I don't trust anything the USA has to say about anything and we're foolish to listen to them.

I hope Canadians wise up before it's too late. It's probably too late already as it seems we've put our faith in leaders who have let us down tremendously already.

At least there are journalists like you who are informed and can educate the public.

Most of this stuff is way over the heads of the average person (ding, ding, ding!!) but people need to know thier voices can be heard and should be utilizing their right to do so by complaining to their MPPs so that these matters are debated more in parliament.

I am and will always be a supporter of BUY CANADIAN. Unfortunately "Product of Canada" is a deceptive lie too all made to fool the consumer. I'm not talking about MADE IN CANADA either...but PRODUCT of Canada. Often times you think you're getting Canadian grown produce and it's imported from other countries and labelled PRODUCT of Canada.

Everything is all imported from foreign countries, the packaging and taxes added here and voila!! It's a "Product of Canada", yet plants, farms, fisheries, etc. which once provided these goods for real now sit closed while "Product of Canada" frozen battered fish for example, once from OUR seas, actually are imported from China now--it's not a product of Canada!! But we're none the wiser are we? And so this is another way we are being sold out and we have the right to know what we are consuming and the TRUTH about where it comes from. This must be rectified. Everyone knows hardly anything isn't manufacturered here anymore, but it's another thing to dupe people into thinking they are getting produce grown in Canada when it's NOT.

We are CANADIANS and not as gullible as some nations think and nor should we sit complacently by and allow our great country to be sold out. We must FIGHT to preserve our rights to our land and resources, to our jobs, and to our sovereignty.

PS: I think people are being just a tad harsher than they need to be because after all this is a matter which should concern Canadians a LOT and if anything, you should be grateful someone is working to expose this type of thing.

I'd be more concerned about spam you get in your emails and mailbox and spend less time worrying about spam in Y/A.

Answer 21

probe not

Answer 22

Canada has been all about selling off natural resources until they are all gone (or very nearly so) right from the start.
It began with cod, then beaver, then lumber and minerals, then oil. Water will likely be next.
Canada has always been rich in natural resources and has sold them off for centuries now. Learn your history.
This question is a no-brainer for anyone with an education.

Answer 23

As long as the businesses for sale are privately owned, the government has no business sticking its nose in and trying to regulate. Either we believe in capitalism, or we don't. And what incentive does any future Canadian entrepreneur have to start large businesses in Canada if they know the threat of government intervention is hanging over their investment?

I think we should be more concerned about our politicians and country leaders who have more interest in pleasing the American president than its own people. We were sold, heart and soul, to the Americans by lyin' Brian - and Mr. Harper seems to be following suit.

Answer 24

I think government intervention is imperative. We are bleeding our natural resources to foreign investors at unprecedented rates. Almost all Canadian conglomerate natural resource companies have been swallowed up by bigger foreign national companies, robbing the Canadian economy of billions of dollars annually.
When will it stop? When we have nothing left in the north?

I'm afraid with America's thirst for our water and natural resources, we will never be allowed to "turn off the tap".

Answer 25

As an 8th generation Canadian through one line I can honestly say I'm upset & angry at both our Politicians & more wealthier countrypersons for selling off our resources & land to other rich investors or companies around the world. They basically are doing what they've done in underdeveloped countries through out the world & take what wealth the resources provide, claim they're helping the local population by giving them a few jobs, but the majority of peoples native or born to the country get sqwat, & worse as the cost of living in their own country creates instablity or environmental catastrophies & health issues, all done by the wealthy in the name of the all mighty buck! Politicians are the worst, because like Premier Gordon Campbell in BC, he's taken PUBLIC OWNED corporations like hydro, railway, ferries or natural gas & sold it without the peoples majority consent & now the people of BC suffer higher home heating costs, electricity, job cuts, the ability to travel to the island, & many railway toxic spills, with the deaths of railway workers. The list goes on & on, yet the average Canadian can do little to stop this thievery of our true North strong & free land of Canada.

I can remember back in the late 80's, I booked a trip to The Banff Hotel for a honeymoon. Not knowing at the time that a Japanese Co. bought it out. Everything went wrong from the time we arrived to the time we left, it felt like the area & the Hotel wasn't Canadian anymore. Everything was oriented towards foreigners esp. Asians. Our reservation was cancelled by management, due to a high amount of tourists, however I made such a stink that they eventually over compensated to make it up to us. Even the cuisine wasn't Canadianish it was more to the tastes of the Orient. There was much more, but I think you get my point & I was more upset than most, because I use to live in Banff & was proud to educate & share the uniqueness of this Park & area to tourists because it represented us as a people.... but no more.

Personally I'm with the Economic Nationalists & we should be more protectionistic or those who only care about their wealth status will sell off Canada, lock, stock, & barrell!!!

PS - the USA is feeling the same in terms of protectionism for thier resources & jobs & companies, due to all the outsourcing of jobs & technology to places like China, so why should Canadians feel any different?

Canadians are known for their friendliness & cooperation... which spells "SUCKERS" in other countries eyes, we need to start protecting ourselves or before you know it, Canada will be owned by another country & will no longer be called Canada.

Answer 26

Even if it is, the buyer should know that taxes are not yet included on the featured price.

Answer 27

A good example of what happens when a country has many foreign investors is China. That's why China's economy is doing so well now.

Canada needs foreign investors to develop and extract its natural resources. And without foreign help a lot of that wealth won't be of use to anyone.

Perhaps a case can be made that Canada is selling its natural resources too cheaply. And perhaps Canada needs to form an OPEC-like cartel with other countries in order to raise prices.

But other countries probably will view such action as unfriendly. And they might retaliate in some economic way against Canada.

Answer 28

you know what i dont even think one bit that we should sell our country to some other country because then they would own us. and we are a free country. and canada is there own.and by the way this is not even a question and you cant run a buseness here

Answer 29

What a question to ask within the neocon corporate plutocracy that we have? You know very well that Globalization is an incomplete term without its preceding adjective "corporate." You know very well that our public domain including common goods are privatized, our rights to such as health and water are under pressure to be commodified, our parliament and sovereignty is sub-ordinated to corporate-friendly rules and policies, that the gap between haves and have-nots is IMMORAL, etc., etc....so why ask rhetorical questions? And what's happened to you, a pang of conscience has transformed you from being a turncoat for so many tears...I hope it is so, for your own dignity and soul's sake. In a country where thanks to its mainstream media a warmongering, sell-out government like Mr. Harper's is elected what do you expect? FIRA (Foreign Investment Review Agency) to be serving the people? Are you that naive?! If you really care, use your position to awaken the people regarding what is happening, but then I don't know how long you'll last in mainstream media which we all know is an integral part of the corporate agenda!

Answer 30

I moved from the US to Canada, and I can tell you that if you in Canada do not like this much non Canadian investment, that stop blabbing in the media and stirring up hype. The one thing I have failed to see in Canada, is that Canada's simply sit back, and let the government do whatever they want, so long as your average Canadian does not have to put forth much effort.


I also observed most Canadians come to US news groups and places like this to berate the US and corporations et al, but do nothing within Canada to stand up and protest within parliament.
Tis easier to blame us then blame themselves for their lack of inaction.
It is an excuse to fuel anti Americanism in Canada.

This org, screams, and you scream and this reporter screams but then no one does a damn thing.
http://www.canadians.org/
Why?

If someone owns Canada other Canadians, that it is the fault of the politicians and the average Canadian person who fails to get involved at any level of government.


I see to many Canadian politicians who got into office like a peerage, simply by name only. That is just so wrong. Why do Canadians tolerate this?


Our next president came from humble beginnings and now he is one of the most powerful people around. No family ties.


I suggest Canada needs a bit of a paradigm shift.





THis from another post on here; this is how lame Canadians can be. They voted in the government, so they are part of the problem, it is the weak Canadian people who voted in a percieved weak govt. Naw, you voted them in and keep letting them do whatever they want.

BTW stores are open 24/7 in most cities even on the 4th of July and corporations et al run 24/7.

We do get paid OT for it though. If the Canadians do not like thier govt time to get off the hockey and labatt beer and got working on changing govt. American's do it all the time.

We do not like something we change, we go to public hearings, we mount call in and letter campaigns and demand to be heard. Seems to me the Canadians are not willing to be more vocal so they cannot complain if they did not stand up and speak, now can they?

Source(s):

http://www.parl.gc.ca/common/index.asp?L…


Oh my husband is Canadian.

Answer 31

well here is my take on the whole idea .
we own Canada,all of us,province by province
person by person,the land ,sea and air. The
elected officials should not make any Canada
selections unless they poll the people that put them in power in the 1st palce.
we elect them basically by thinking that they are good people and they are honest,WoW,
WERE WE WRONG every single year.The last person who truly did things for all Canadians to benifit from was our loving
Prime Minister Pierre Elliot Trudeau !
I mean if Brian Mulroney Hadn't sold everything to his buddies,man we would be in amazing shape in this country.Remember
Trudeau started Petro Canada,we were not only producing oil we were turning it into gas
for our own consumtion or to sell.Now sadly even though we produce more oil daily than Saudi Arabia,we send it all to the states to turn to gas,and buy it back .Trudeau wanted the government to make gas from oil,so we could have some control over our own destiny,being a gas producer we could have kept the prices lower for Canadians,But Thanks to Brian the Clown Mulroney we are Inflating ourselves into oblivion with the high price of oil.It supports our dollar and not our pockets.See you in the soup kitchen.
bob.