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Manulife Financial Corp
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Close 2019-11-11 C$ 26.07
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Globe says Power, others seek to capitulate on China

2019-11-12 07:52 ET - In the News

See In the News (C-POW) Power Corp of Canada

The Globe and Mail reports in its Tuesday edition that it is time for Ottawa and Beijing to settle their differences and get back to business, leaders of Canada's corporate interests in China said Monday. The Globe's Globe says Power, others seek to capitulate on China nearly a year after the arrest of a Huawei executive in the Vancouver airport on a U.S. warrant dragged the two countries into a protracted diplomatic and economic standoff. The dispute has brought Canada into conflict with China's authoritarian leadership. Canadian critics have accused Beijing of practising hostage diplomacy for what is widely seen as its retaliatory arrest of two Canadians last December. Now, some of the senior-most Canadian figures doing business with China say it is time to move on (without, apparently, the firm precondition of Michael Kovrig and Michael Spavor's release). "Citizens from both countries have been detained. Canadians strongly wish to see their citizens come home safely and be reunited with their families. The Chinese people also wish to see the same," said Olivier Desmarais, senior vice-president at Power Corp. and chairman of the Canada China Business Council, which held an annual gathering in Shanghai on Monday.

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