Ottawa has for years struggled to strike a balance between attracting foreign investment and fending off politically-motivated takeovers by foreign states
OTTAWA — Canada needs to clarify its foreign investment rules, as the COVID-19 pandemic puts the country at heightened risk of strategic takeovers by aggressive foreign actors like China, several international affairs experts say.
“Most of them, if not all of them, are serving the interest of the Chinese state, and are not simply about enhancing the profitability of the company in Canada through a shrewd investment,” he said. “Many projects funded by China are in fact money losers, but serve the People’s Republic of China’s geo-strategic interest all the same,” he said.
Other experts on the panel disagreed that Canada is currently at a higher risk of foreign takeovers, saying that the hundreds of billions in capital pumped into the economy by the federal government and Bank of Canada has kept companies relatively healthy.
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