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This map tells you everything you need to know about why Harper is having the word
"innovation" expunged from Industry Canada.
Click
here for an enlarged interactive version of it.
Of the top 300 Research and Development companies in the world, Canada shows two for a total of $2.18bn last year. And the second one, ATI, was just sold off to a foreign investor so now we're down to one at $1.86bn.
Instead of investing in innovation, we're having a yard sale.
From
The Star :
"In the past two years, more than a dozen of Canada's largest corporations, with total assets of
more than $57 billion, have been swallowed by foreign predators. And the response has been ... well, there really hasn't been a response
."In the 70's, Trudeau responded to public outrage over the selling off of Canadian companies by creating the Foreign Investment Review Board (FIRA) and two Crown corporations — Petro-Canada and the Canada Development Corp. — to repatriate foreign-owned industry.
Today we have NAFTA, and the ubiquitous Wendy Dobson, former CEO of C.D.Howe, one of the authors of the original deep integration
Task Force on the Future of North America and an attendee at the recent
secret Banff conference, saying :
"We shouldn't be concerned about who owns the corporations."
Evidently it is of no concern to her that last year Hudson's Bay Co., Falconbridge, Molson's, Fairmont Hotels, and Sleeman Breweries all became branch plants of absentee landlords.
Peter C. Newman
is concerned : "We're becoming a kind of Manchuria, supplying raw materials to the more mature world."
Yard sale.
Investment Canada, the successor to Trudeau's FIFA, has a mandate to ensure that these deals have a "net benefit to Canada". Time for them to get out there on the lawn and start hauling our stuff back inside.
UPDATE : Great piece from
Galloping Dave on how Harper is banning words like innovation to reframe the message.
Broken
link to The Star fixed.