Wednesday, November 29, 2006

Flaherty defends plan to screen foreign takeovers

On November 29, 2006, Dr. Wenran Jiang was interviewed by the Globe and Mail on Finance Minister Jim Flaherty's recently announced plan to "protect Canadian assets" against takeovers by some foreign state-owned companies.

Dr. Jiang said that Chinese company and government officials are increasingly skeptical about Canada's openness to Chinese investment.

Wenran said Canada is losing ground in the global competition to gain access to Chinese markets and be the recipient of out-bound Chinese investment. He said Canadian governments would have full power to regulate any foreign subsidiary that resulted from an acquisition.

You can read the article here.

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