Like those nail-biting episodes of 24 where the clock is ticking down and there is a heated race to head off disaster, the nation of Canada finds itself in such a scenario. The mass media has all but ignored or barely mentioned the looming Great Canadian Sellout to communist China courtesy of the Conservative Party of Canada.
Not content with being the party that sold Canada up the river with the Canada-U.S. Free Trade Agreement in 1989 after which the U.S. trade representative Clayton Yeutter bluntly stated, “We’ve signed a stunning new trade pact with Canada. The Canadians don’t even know what they have signed. In twenty years they will be sucked into the U.S. economy,” they are now upping the ante and selling Canada out to China.
Clayton Yeutter was exactly right, as the U.S. government had no intentions of removing dumping and anti-subsidy laws, and this was made abundantly evident over the years with such things as softwood lumber, wheat exports, PEI potatoes and other Canadian exports. It wasn’t bad enough that the Harper Conservatives sold Canada out with softwood lumber and allowed the American timber conglomerate to essentially steal hundreds of millions of dollars from Canada, the federal Conservatives are now poised to sign away even more in an utterly one-sided trade deal with China. But wait it gets better! This deal with China, the Canada-China Investment Treaty, or FIPA, will not be discussed in the House of Commons or any committee, it will simply be ratified by default come November 1, 2012. Unfortunately for Canadians, the sunshine that is disclosure and accountability will not be allowed to disinfect this looming disaster.
What is the purpose of electing MPs and having a House of Commons if binding trade deals are constructed and negotiated behind closed doors and become binding with no public oversight? Why is this government the antithesis of its own election campaign slogans of accountability and transparency? If this deal is such a boon to Canada than prove it to Canadians via our democratic institutions – don’t conduct meetings in secret then proceed to ratify FIPA by default.
So what’s in this sweetheart deal for Chinese investors (most of whom are state controlled)? Like NAFTA there are clauses contained that allow for damages to be awarded via ‘expectation of profits’. In layman’s terms this essentially means Chinese state investors can sue Canada via a system outside of Canadian control for just about anything they deem detrimental to their profit taking. For example, this binding trade deal overrides any municipal, provincial or even federal law or regulation that in any way impedes profits for Chinese investors. Simply put, Canadian-made laws and regulations will be tossed out the window in favour of Chinese investors. And just for good measure, the arbitration method will be conducted behind closed doors in secret and only by the federal government!
Many Canadians are unaware that the sometimes-reviled National Energy Policy has been gutted in the advance of free trade. No longer can Canada try to establish Canadian pricing for oil that is manufactured, refined and sold in Canada. Canadians ceded that ability when the ruling Liberal Party signed onto NAFTA. Canada now has little to no control over supplies and pricing. During free trade negotiations the Mexican negotiators were smart enough to balk at the American proposal to write into law that Canada and Mexico must give them a full two-thirds of all of natural gas production. This is still in place today, and what this means is that even though Canada ships over two million barrels of oil a day south, the two-thirds rule guarantees that we cede our ability for national pricing. If Canada wanted to cut back on exports of natural gas or oil, we must also cut our own national consumption by an equal amount. A staggering thought in this age of dwindling supplies and record consumption. FIPA sadly takes this to the extreme.
FIPA also contains these clauses but takes them a step further covering ALL of Canada’s natural resources. Timber, copper, uranium, rare earth elements, water, and every other natural resource is potentially subject to this deal and if Canada ever wanted to reduce Chinese access to these resources, we MUST reduce our own access to our own resources by the same order. Talk about removing national determination…
FIPA also opens up more Canadian industries to Chinese state investors, and governmental oversight is extremely limited in ensuring any such takeover is in the best interests of Canadians. So say goodbye to Canadian energy and mining industries, as everything will be fair game under FIPA. The Chinese government is sitting on nearly $3 trillion in monetary reserves, so such a deal is an invitation to a buying frenzy.
NAFTA can be abrogated with six months notice, FIPA is one year. FIPA is also binding for a total of 31 years! Yes, for 31 years Canada will be bound by this secret trade treaty where Canadian laws will be tossed aside so Chinese state investors can profit at our expense.
Concerned Canadians need to act fast as the clock is most certainly ticking and the worst trade deal Canadian’s have ever seen is looming large. The choice is simple – a Canada for Canadians, or one for made for Chinese investors.
Contributed to the Federal Politics Journal by Roy Whyte.