We must begin to decouple our economy from China, before our entire country becomes nothing more than an economic slave to the Communist State.
Usually, I oppose government restrictions on businesses.
Within our country, companies must be free to compete, trade between provinces, and fight for market share among Canadian consumers.
However, when it comes to trading with a country like China, it is now beyond clear that tough restrictions must be imposed.
Consider this recent Globe & Mail article, on how Canada’s business establishment wants to deepen ties with China:
“The opportunity set in the market is huge and the long-term potential for our business in this market is similarly large,” said Stuart Mercier, head of real estate for Asia at Brookfield Asset Management. At Brookfield, “we’ve got a lot of support, a lot of desire, to grow this business in a region that will play a critical role in the global economy for decades to come,” he said.
Brookfield is hardly alone, as the Canadian corporate establishment seeks to push past more than 11 months of turbulence.”
And consider the actions of Nova Scotia:
“Among the most ambitious is the province of Nova Scotia, whose Premier, Stephen McNeil, is currently on his second trip to China this year and his eighth as provincial leader. His staff said he had no interest in commenting on the continuing detention of Mr. Kovrig or Mr. Spavor. Instead, he said in an interview, he is intent on building more trade with China as a way to further diversify the economy in his province, whose exports to China are expected to surpass $1-billion this year, up from $197-million in 2013.
“If you believe you’re interacting with friends, your economic relationship grows much quicker and more rapidly. That’s why we continue to build this relationship,” he said.”
The article also notes that the corporate establishment is totally at odds with Canadian public opinion:
“Eagerness from some parts of the business community to embrace China comes as Canadian public opinion grows more skeptical. In polling by the Asia Pacific Foundation of Canada, for example, “China ranks highest among countries from which Canadians are likely to oppose foreign direct investment,” said Stewart Beck, the foundation’s president. “Our friendship is being challenged and tested as never before,” he added, although “with time and continued engagement, the relationship will endure and grow.”’
Clearly, the corporate establishment is unwilling to listen to the voice of the Canadian People. That means the government must step in and impose restrictions on investment from China, and restrict the ability of Canadian businesses to get involved with China.
The more we trade with China, the more we become beholden to their ruthless authoritarian government. And as we’ve seen, those who are beholden to China and up having their freedom infringed upon, as China extends their censorship and totalitarian actions across the globe.
The best step is to make clear that current trading relationships can be maintained, but that further investment from China into Canada will face restrictions (tariffs, outright bans), and that Canadian companies will be restricted from expanding operations in China. This will stop any serious disruption from taking place, while capping the percentage of our economy that is based upon trade with China, forcing companies to expand trade with other nations, and focus more within our own country.
China is not like other nations. Trading with them means becoming beholden to the Communist State, and that is a risk that a democratic nation like Canada cannot take. In this rare case, the government must step in and take decisive action. We simply cannot allow Canada’s corporate establishment to sell us out to a brutal Communist regime.
Spencer Fernando
