The Investment Canada Act, implemented in 1985 by the government of Brian Mulroney, replaced the Foreign Investment Review Agency, which had become a potent symbol of Pierre Trudeau's interventionism. While the new act was explicitly intended to welcome foreign investment (including takeovers) with open arms, it included a "net benefit" test to supposedly protect Canadian interests.
Owning the podium, selling the stadium
The Harper government portrays itself as standing up for Canada, but it is preparing a major sell-off of Canadian interests that will compromise our cultural sovereignty, national identity and national security.
In last week's federal budget, the Harper government signalled its intent to throw open the doors of foreign ownership in three strategic, previously protected, sectors: telecommunications, satellites and uranium.
The issue here isn't foreign investment, which is allowed. At issue is a move to allow giant multinational conglomerates to come in and take over Canadian companies in these key sectors.
Harper seems determined to turn Canada into anti-union paradise
Hundreds of shivering factory workers locked out of their plant by manufacturing giant Caterpillar in London, Ont., might well draw some warm comfort from -- of all things -- the sayings of Newt Gingrich.
Of course, the conservative Republican presidential contender is no friend of labour or social justice; he recently proposed that poor children be schooled in the ways of free enterprise by being hired to clean school washrooms.
Nonetheless, Gingrich, one of the stars of the Republican freak show, is desperate to defeat front-runner Mitt Romney. With the mitts off, Gingrich is denouncing Romney's background as a Wall Street corporate raider, accusing him of practising a form of capitalism where "you basically take out all the money, leaving behind the workers."
Canada's challenges in natural resource development
Natural resources are increasingly central to Canada's economic trajectory. Our challenge is to maximize the positive spinoffs from resource developments, while minimizing the economic and environmental costs. In that regard, imagine two extreme cases: one in which resource projects generate diversified and lasting benefits, and one in which they do not.