Canadian News

Conservatives push to ban Chinese companies from buying key Canadian businesses

Industry Committee pledged yesterday to review rules relating to the sale of Canadian energy companies.

Nico Johnson Montreal, QC
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The House of Commons' Industry Committee pledged yesterday to review rules relating to the sale of Canadian energy companies, revealing another fracture in Sino-Canadian relations.

China, who has a history of using their vast economy for unscrupulous purposes, could buy these ailing companies, further disintegrating Canadian sovereignty, according to Blacklock's Reporter.  

"Are we allowing authoritarian countries and government to purchase strategic assets in Canada?" asked outspoken Conservative MP Michelle Rempel.

There is currently a push by Conservative MPs for Canadian companies to remain Canadian, no matter how expensive it is for the government to ensure this policy.

Rempel went on to say that she believes it an important duty of parliament to keep "Canadian companies remain Canadian, which I think is really important."

The House of Commons has already began to determine the true scale of foreign buy-outs in Canada, however, due to coronavirus, it will be sure to escalate.

When private companies from hostile countries by businesses in key industry, a very serious security threat is manifest. "Canada should place a temporary moratorium on acquisitions from state-owned enterprises of authoritarian countries," read the declaration.

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