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Could this article be missing one vital point?
State ownership in so called "democratic" countries like Canada really cannot be exactly the same as state ownership in China. Certainly, political pressures apply in China, but not to and with quite the same degree and results as in Canada, subject to the vagaries of elections.
China to date does not hold general elections, wherein Canadian political parties must periodically compete in pandering to the citizen by providing access to various unfunded public giveaways. Instead, China's authoritarian system runs on a command leadership, which for some time now seems to be producing huge positive economic and financial results, to the point that predictions are made wherein China's economy will before too much longer overtake and then pass that of the USA.
Considering the so far success of China's financial and economic management within its present political system, it may not be conclusivilly productive to compare the possible results of state ownership in that country to state ownership in Canada, where citizen electors must be periodically pampered.
Therefore, the argument here may be somewhat one of apples and oranges. No doubt Cananda' resources, particularly in oil, will more and more come under foreign control, but which control is most benefical for Canada; China's, or that of a country which lately more and more waves and wields its iron clad military fist?
That is a decision.
Posted by Dave
at 2012-08-16 08:14
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