The Shotgun Blog
Tuesday, September 20, 2005
China E-Lobby picks up another acquisition by the Communist Chinese that has gone virtually unnoticed by the Canadian press. Or perhaps they do notice, but the subject is too close to Liberal Party vulnerabilities to risk mentioning too loudly.
CNPC buys up part of another Canadian oil firm: Meanwhile, the Communists continued their poaching of Canadian-owned resources (third and third items) with the Communist-owned China National Petroleum Corporation's "$1.4 billion acquisition of the Ecuadorean oil assets of Canada's EnCana Corp. this week" (Washington Times).
Add this to Sinopec's 40% stake in a $4.5 billion oilsands project and the China National Offshore Oil Corp. purchase of 17% stake in MEGEnergy, as well as their buy out last month of Calgary-based PetroKazakhstan. They're also eyeing Saskatchewan uranium.
So.... I wonder how long before a troubled Ontario Hydro is privatized to permit investment in "new infrastructure" by our new bestest frends?
A question those in the oppostiion benches might start posing, don't you think?
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Tracked on 2005-09-21 9:56:22 AM
It most certainly is about “giving the market free reign”. Communist thugs buying our resources are reducing the free market. It’s like letting the Mafia buy the Banks. Why would we let known thugs obtain controlling interest in our assets?
Kate is bang on – the Opposition should start asking questions. Because the Librano$$ won’t question right from wrong let alone answer to it.
Posted by: nomdenet | 2005-09-20 8:33:28 PM
Ah yes - "no thank you, Chinese communist thugs, we're quite happy with the communist thugs we have right here at home."
The answer is not to forbid the owners of these assets from selling to the highest bidder - to do so is to expropriate without compensation. Free trade is the path to wealth and to peace, and government interference in free trade always leads to poverty and war. It was the nefarious government programs to "protect" their national economies which led directly to World War II. What German and Japanese individuals could not purchase by free trade, their governments strove to capture for them with force.
It is a direct result of the government screwing with Canadians' fundamental freedoms, especially economic freedom, which has led to the fire sale of Canadian assets in the first place. High taxes, high regulation, rampant government-assisted unionism, generous welfare, and unrelenting inflation have all led Canadians to the point where they're not even bothering to think about the future anymore - they're borrowing and spending like the stupid children that their government considers them to be. As I have pointed out several times before, the personal savings rate in Canada is *less than zero*. We are eating our own seed corn, and we won't see any more factories, mines or oil wells developed unless foreigners decide to either lend us money, for interest, or else invest in Canada for profit. That's their interest and their profit, not Canadians'. That means that Canadians will be either the wage slaves of, or in hock to, foreigners. Which foreigners do you wish to be your boss or your banker? Do you think you have a choice?
Similar disasterous policies in all of the "nice" countries that people would presumably prefer as investors, means that investment dollars from these countries are not really available. It seems that these countries are so "nice" to their people, that they also relieved them from the burden of worrying about working, saving, investing, having families, etc.
China has a greedy, rapacious government who cares a lot more about its own power than anyone else's welfare. But if you're a country of 30 million people, you can't outwit an economic thug nation with a billion people by becoming an economic thug yourself. The only way to protect yourself is with wealth and freedom - make it too expensive for the thugs to buy you or invade you. Make the people in the thug country envy your wealth and freedom. If you act like a thug to them, you just look like an aggressive weakling who's ripe for knocking down.
I will be very, very worried if I hear the Opposition start to make speeches about how the government should "get tough" and "protect" Canadians - because the only people they can really get tough with is their only electorate, and the only thing they can protect is their own, pathetic socialist asses.
Posted by: Justzumgai | 2005-09-20 9:19:41 PM
Justzumgai, are you saying it’s OK for a “greedy rapacious government who cares a lot more about its own power then anyone else’s welfare” to take any assets it wants off the market in Canada?
That sounds like an endorsement of Trudeaupia and NEP 2 to me. Only worse. Trudeau was simply a Marxist. These commies are Marxists and corrupt. Why would we not stand up to corruption? Would you also let the Mafia buy anything it wants?
Because we regulate our markets and don’t knowingly let crooks operate in them is how we strengthen free markets. It doesn’t make us “economic thugs” that we police them. Adscam people in government don’t go to jail but corporate crooks at Tyco and Enron do. We’re much tougher on corruption in the free markets then in government. Which is why we don’t want a communist government buying our assets – they are probably even worse then Librano$$.
Posted by: nomdenet | 2005-09-20 9:52:10 PM
US corporations own over 272 billion of Canadian manufacturing, oil and gas assets. China owns what, maybe, maybe, ten billion. And from this we make the giant leap to Chinada? If you fear Chinanda look at immigration not oil.
Posted by: DJ | 2005-09-21 12:22:05 AM
Your key word is “corporations” – US or Dutch or whatever foreign corporations as opposed to China "the government".
But first let’s look at your comment on “immigration”. I see Chinese people escaping Commie thugs. But I don’t even see Michael Moore escaping the US to come to the land of the CBC. The good news is my newly established Chinese entrepreneurial neighbour is voting for Harper this time. He’s suddenly seen the light. I’ll get him a Librano$$ T-shirt. But “Stupid white men” like Michael Moore, the Deaniac and Carter want to create statism in America. On the other hand Condi Rice comes from the “ownership” school of meritocracy.
Thank God for Chinese immigration. But that’s different then Chinese Communist "government" purchase of our assets. That's different then foreign “corporations” puchasing our assets. Preferably “widely-held” corporations that aren’t just the political-play-pens of powerful magnets like Desmarais and Stronach and Soros etc.
Let’s be clear when you talk about US ownership in Canada you don’t mean Washington D.C. buying Canadian assets. But I do see Beijing, a socialist government, buying assets. There’s a big difference when governments buy assets versus capitalist “corporations” that are owned by citizens of democracies and whose capitalist goals are transparent. But I don’t even want Ottawa, under NEP 2, to buy resources in Alberta. I would prefer Americans or Brits or Dutch corporate citizens of democracies to buy our resources then for our own government to buy them and create a Petro Canada déjà vu. That’s because I trust the transparency of capitalism and distrust all forms of government intervention.
Furthermore, I’m so paranoid about the Demarias/Stronach/Moe.Strong/Martin/Chretien cabal of Librano$$ and their relations with China that I suggest we follow the money. Starting with the Librano$$ gifting of $50 million to China which is ostensibly for development purposes - To the second largest economy in the world??? That’s nuts. Who are we trying to buy off? What kind of influence peddling is going on here? Are we helping the Desmarais’ who control Power Corp, Great West Life and Investors Group and Total Petroleum to get clearance in China? Ditto Stronach and Magna? If so, that should be disclosed by the Librano$$ as the goal. Let’s disclose the 2-way patronage going on here. And are the Librano$$ encouraging China to be a Trojan Horse in Alberta because they know that Canadians would object to NEP2 but might not notice if China is the Trojan Horse for socialist goals. Watch for some kind of Desmarais/Total Petroleum, France and China stealth-linkages soon in Alberta.
As Kate says, the opposition should be asking questions about all this. That’s what opposition parties are for; to help Canadian people focus on the big and important issues. This is a really big issue and many people can’t seem to tell the difference between a foreign Communist government buying our resources and a foreign capitalist investor making an investment in our resources. The CPC should help Canadians understand what’s really going on here because the MSM won’t do it – it’s too lazy, it’s in favour of government intervention and it’s part of the 2-way patronage, CRTC, cabal with Librano$$.
Posted by: nomdenet | 2005-09-21 6:53:26 AM
Actually Kate, our Fearless leader has already come up with a plan to take on China, et. al. National Child Care! Don't belive me? I blogged it at: http://colecoop.blogspot.com from the CTV news article at: http://www.ctv.ca/servlet/ArticleNews/story/CTVNews/1127305519016_29/?hub=Canada
Posted by: Coop | 2005-09-21 8:45:23 AM
"Justzumgai, are you saying it’s OK for a “greedy rapacious government who cares a lot more about its own power then anyone else’s welfare” to take any assets it wants off the market in Canada?"
Buying shares in a private corporation from a willing seller is not "taking any assets it wants off the market in Canada".
To prevent Canadians from selling their property is precisely the kind of meddlesome, impoverishing, socialist, citizen-bashing tyranny which is the hallmark of Trudeaupia.
Like I said before: the only strategy to counter communist thugs is to become so rich and free that they have no power over you. To imitate them by pretending that government knows better than citizens what should be done with the citizens' own private property is to pay homage and flattery to the communists.
A free market is the only possible way in which Canadians will ever be able to once again save and invest in their own businesses, and even invest in businesses in other countries. Unfortunately Canadians have enthusiastically participated in their own impoverishment for the last few decades, by continually voting for socialism instead of for freedom. Now that Canadians are broke, the only path that is open is to sell off assets, go to work for foreigners, and gradually rebuild savings. Actually there is another path, which is the Mexican/Venezuelan/Cuban one: nationalize everything, drive out all foreign investment, put heavy restrictions on your citizens' property and other freedoms, and mount a continuous barrage of propaganda to convince them that they're somehow better and more virtuous in their poverty. I know which one I want, but the question of the day is, what do you conservatives want? There is no other option on the table.
Posted by: Justzumgai | 2005-09-21 9:22:09 AM
You know, Kate, this article is just as xenophobic and narrow-minded when it's pimped on Western Standard as it was when you posted it to SDM.
Everything I wrote here stands:
Posted by: Greg | 2005-09-21 9:57:50 AM
When we hang the capitalists they will sell us the rope we use.
Communism is Soviet power plus the electrification of the whole country.
V I Lenin
The goal of socialism is communism.
V I Lenin
China is buying up western energy while it remains in possession of Tibet, threatens Taiwan, is North Koreas biggest patron, and unrepentingly remains one of the worlds worst human rights abusers.
It is time to say NO to China while we can still imagine saying it.
Posted by: Speller | 2005-09-21 3:38:28 PM
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