Canadian Economy In 2018

Then, on Dec. 10, 2018, a brief flicker of hope for a domestic industrial renaissance emerges from an unexpected quarter. Conrad Black, who is just completing his American jail sentence, declares that he has been "transmogrified" into a born-again Canadian patriot and announces his intention to repatriate his re-adopted home country's corporate assets—a process he describes as "sequestrating indigenous appurtenances." Black proclaims that foreign-owned subsidiaries are welcome under his corporate umbrella, providing they sign profitable non-compete agreements and don't expose him to security cameras. Such a scenario is, of course, absurd. But is it any more unlikely than what has already happened? No one could have speculated that this country would voluntarily, even enthusiastically, give up ownership of such basic economic anchors as its entire steel and nickel industries; its only world-class aluminum producer; its two prime luxury hotel chains; the breweries that made the suds that once defined Canada's hip dudes; Bell, its largest communications conglomerate; its biggest winemaker; and, most recently, Cognos, the last major independent maker of business intelligence software—not to mention the abandonment into foreign hands of the Hudson's Bay Co., this country's founding commercial empire. We are precariously close to being squatters on our own land. http://www.reportonbusiness.com/servlet/story/RTGAM.20071219.rm2018/BNStory/specialROBmagazine/home

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