CCCC – a company owned by the Chinese government – will have a 30% share in the project, and that means profits heading to Beijing instead of staying in Canada.
We are already seeing an early consequence of China being allowed to take the historic Canadian construction company Aecon.
According to BIV (Business In Vancouver), “Chinese investors stand to profit from the Site C dam project, thanks to a takeover of a Canadian company that leads a consortium tapped by BC Hydro as the preferred bidder on the dam’s spillway and generating station contract. With a 30% share, Aecon Group Inc. (TSX:ARE) leads the consortium that BC Hydro announced on December 21 would be the preferred bidder for the spillway and generating station contract, which is expected to be worth at least $1.2 billion.”
Because CCCC – the overseas face of state-owned China Communications Company Inc. – is taking over Aecon, some those profits will go to China, rather than staying within our country.
This is how allowing foreign takeovers of our Canadian companies slowly drains wealth out of our nation. If Aecon was kept in Canadian hands, there would be more money staying in the country.
Now, the money will head to Beijing, which is all the more egregious since it’s a public project of BC Hydro.
This is what the globalist elites want to see happen more and more: Our country taken apart piece by piece, almost imperceptibly, until one day there is almost nothing left.