80watts, your Chinese social credit score likely so high Xi will offer you a free Uyghur organ transplant. Don't need to dis most offshore investment in Canada. The American owner of Seaspan shipyard likely supports a Canadian citizenship. The gas pipeline to Kitimat mostly owned offshore. Nothing much in the way of industry going to get built any other way. Offshore corporations trade in stocks. Canadians can buy in anytime.
China is the cheapest place to get a ship built in the world (BC Ferries). No other country in the world can match it including Canada. For the last 30 years American corporations were going to China to get cheaper products (import american owned products from china for high profits). China learned from their manufacturing and stealing of patents. Now those American corporations are moving out of China and going to India, Malaysia, Indonesia, because of Chinese aggressiveness towards expanding military and influence. Most engineering/designing is done by China and that has caused shortages in America and Canada and Europe cause it was cheaper to use China, instead of higher paid prices of engineers in their own country.
The name of the game is PROFIT and making money.
The movie Pretty woman. The billionaire bought companies and sold them off piecemeal to make money. The hooker saved the breakup of the company...
American corporations save money by breaking wages, hiring out work at cheaper rates, going to other countries (China, Mexico etc). Meanwhile the laid off workers need to find employment elsewhere.
In Canada this has been happening since the 1980s.
Ontario lost the car/vehicle manufacturing big time, all the while the big 3 were shutting down in Canada due to high wages. Since then Ontario has been surviving on gov contracts to keep it going.
The 1% in Canada (people who control 95% of the money) are not investing in Canada. The big 5 banks in Canada are not investing in Canada. Canada is resource country. So why haven't Canadians developed their own resources. Because the 1% like Carney don't want Canadians to develop its own resources. (as a side note the 1% are well connected to the civil service , even as far back as ww2). Maybe because they are invested in foreign companies that Canadian resources will make profit for them (global economy).
The1% want to use Canada's resources for future use (see Turd's use of environmentalism to slow any any of development in the west and any carbon resource). Newfoundland only got Hibernia, because it would then be less a burden on the Federal government. BC won't drill gas and oil off the Queen Charlotte Islands, cause it would be for future use. The tar sands have oil for the next 300 years. Right now Canada produces less that 2% of the Carbon emissions in the world and the fed gov is saying that is way too much, we have to cut back. In doing so it is killing the Cdn economy. Development of BC, AB, Sask, MB and the territories are not encouraged, in fact they are dissuaded by environmental concerns and paperwork (red tape).
The mining system is set to make money for the mining company. Any taxes that go towards government go into general revenue and there is no future funds when the mine stops.
So what happens when all the resources are gone in a couple hundred years? What happens to the people in Canada when its resources are gone|? We are still in boom/bust economies and the idea is slow growth of the economy, but many Canadians are falling behind, because the well paying jobs are disappearing.
IN the west and still today the Fed government concentrates it resources in Ontario and Quebec.
Foreign investments concentrates on water rights and mineral wealth.
Probally need to change the way minerals and carbon fuels are taxed, to keep the future wealth of Canada intact.
Buy low Cdn price and sell high at world prices.... Stupid rules for EV vehicles when there is not enough electricity to power 20% of vehicles in Canada. you would need nuclear power to achieve this.
But hey politicians like to sell crown corporations off to their friends, and the future wealth of Canada.
