Last week the Harper government allowed the takeover of Canadian oil companies by companies controlled by Chinese and Philippine governments.
At the same time, Harper announced new regulations to clarify future takeover decisions. In part they state, "[future approvals might require] the appointment of Canadians as independent directors on the board of directors, the employment of Canadians in senior management positions,the incorporation of the business in Canada, and the listing of shares of the acquiring company or the Canadian business being acquired on a Canadian stock exchange."
But Harper is currently preparing to sign a trade agreement with China that states in section 7.1 "A Contracting Party may not require that an enterprise of that Party... appoint individuals of any particular nationality to senior management positions."
It is hard to know what conclusions Canadians should draw from these conflicting Harper government statements.
John Vogt
Prince George
