Hi Malcolm,
I know shady Li (Ka Shing) has been able to do deals in Canada: Husky, Vancouver real estate, but that is not clean money. If you want to take dirty money, fine, but it does be the question of why Canada has SRI (Socially Responsible Investing) funds.
As for returns, if you replace all the workers in Canada with workers from Chinese provinces, you'll get better returns, Malcolm. What you're saying is right: let the free market decide. These Canadian industries are undervalued when they have to conform to Canadian standards but lower the standards and enjoy more profits.
I take it you would feel comfortable if all the manufacturing in Canada were run by Chinese. Example: I am the bidder, I supply Chinese factory workers, I can generate the most profits for every Canadian firm. Highest bidder wins, right?
I think people do care who is buying their companies and where the money comes from.
Now this:
<The one thing that we must be sure of is protection of the media; hence the strong opposition to US purchases of magazines etc.>
is unrelated, and despite Canada's so-called 'independent media' it doesn't matter a hoot what the media says if the Prime Minister (or Head of Canada Post, or whatever) can just apologize and get away with a white collar crime. The OSC, for example, is a complete waste of money and will never hold a candle to Spitzer's office-which does much more with less budget, less people, lower salaries.
But now you've taken us off-topic.
David |
