The Canadian National Newspaper: Foreign Transnational Enterprises take-over 11,254 Canadian-owned companies

Industry Canada has just released its most recent startling figures re Foreign Direct Investment, these covering the period from the beginning of Investment Canada, June 30, 1985, to the end of 2008.

During this period, there were 11,254 Canadian-owned companies taken over by foreign transnational enterprises.

Only 12% were reviewed by Investment Canada in an attempt to see if there was likely to be any benefit for Canada.

The total amount of foreign direct investment measured by Investment Canada during this period was an enormous $854.93 billion.

Of this only a paltry 2.2% was for new business investment. The overwhelming balance was for takeovers, mostly by U.S. corporations.

It's important to know that a great percentage of the takeovers by foreigners has been financed by Canadian banks. But, as I have pointed out many times before, no one in Ottawa has the faintest idea of how much this is, and no one in Ottawa in Finance, Industry, Bank of Canada, or the P.M.O cares.

Mel Hurtig is a famous and passionate Canadian economic nationalist, who continues to campaign on behalf of disenfranchised Canadians on vital national sovereignty, social justice, and global peace related issues.

Make comments about this article in The Canadian Blog.

Become a Member:

Would you like to see other similar articles and critical commentaries in The Canadian National Newspaper? Then, show your support. Make a member-pledge donation, in support of the Membership Drive of the Pro-Democracy Media Foundation.

The Canadian can only continue to publish investigative articles in such areas, with the donations from members of the public in Canada, the U.S., and abroad. Consider making a donation of $50.00, $75.00, $100.00, $200.00 or more. Donors are eligible to receive our first collector's print edition in mail. Alternatively, you can send us a note to be placed on our special email list of members. Member-donors can also suggest articles or commentaries to be published in The Canadian.

The Canadian is a socially progressive and not-for-profit national newspaper, with an international readership. We provide an alternative to the for-profit commercial focused media, which often censors vital information and perspective of potential interest to the diverse Canadian public, and other peoples internationally.