So what could possibly motivate some politicians to sell Canadians out?
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The new China investment deal that Prime Minister Stephen Harper inked in Russia and that will become law by Nov 1 could be "a 31-year ball and chain on Canada," without critical changes says Gus Van Harten, a Toronto-based global legal authority on investment trade deals.
Moreover the agreement, part of Harper's aggressive agenda to sell Canadian energy and mining resources to the world's second largest economy, will make it easier for China's powerful state-owned enterprises (SOE's) such as Sinopec, (Asia's largest refiner) the Kailuan Group (a coal conglomerate) and CNOOC (a national oil company) to control the pace and scale of resource development in Canada.
The Foreign Investment Promotion and Protection Agreement (FIPA) also gives China's state owned enterprises, already under fire for corruption and inefficiency, the right to contest any Canadian standards that might stipulate the use of Canadian labour and materials in resource projects.
"The deal in effect gives risk insurance to Chinese companies borne by Canadian taxpayers. Taxpayers assume major liability for business losses of Chinese investors due to legal or regulatory changes in Canada," explains Van Harten, who has sent a letter to Prime Minister Stephen Harper (published
The Tyee – China Trade Deal a '31-Year Ball and Chain' on Canada
Three of four Canadians against ceding control of resources to foreign governments: poll | The Hook