Canada for sale

Every now and again I read an article that confirms to me that any part of Canada can be sold for any price. Case in point:



I mean how disgusting is it that the biggest Canadian mining companies are all now owned by foreigners.

Here is a quote from the article in the FT.

A Toronto-based mining banker said the conservative government’s “blindly free-market” attitude to takeovers was seldom matched in the home country of a bidding company. “If Barrick became a $300bn corporation, could it take over Vale?” the banker asked. He was referring to Vale, the Brazilian iron ore champion and Barrick Gold, the Canadian gold miner.

When I read this I feel like vomiting. But, such is the way of business in Canada these days, forget about National champions. The sad thing is that you know it will not be reciprocal. As this banker aptly points out, Brazil, China, India, etc... will not allow us to take over any of their huge companies.