May. 16, 2019

Don’t preach too strongly, millions of Canadians have investments in China

I was reading Terry Glavin’s column in the National Post concerning the upcoming anniversary in June of the Tiananmen Square uprising in China. He described the fact that Canada really embraced doing business with China notwithstanding this terrible event which Involved the murder of hundreds of innocent people; how human rights were trampled by the Chinese Military.

Glavin highlights that Canada's China involvement really got a boost in 1994 when Prime Minister Jean Chretien lead The Team Canada trade delegation action when hundreds of Canadian businessmen and politicians descended on China to push greater trade with that undemocratic, human rights violator. All this becomes even more poignant with the revelation today of the formal arrest of two Canadians who were being held by Chinese authorities.

This got me to thinking. I bet Canada is involved in investments in China through our Canada Pension Plan Investment Board. Sure enough if you go into the Board’s website you can find all the places and companies around the world where the Board invests.

Many, many Chines companies: like Agriculture Bank of China, Air China, Bank Of China Ltd, Central China Securities Co.Ltd, Aerospace CH UAV Co. Ltd, Chang Tun Mining Group Ltd, China Coal Energy Co, Ltd A, China Railway Group, Chugai Pharmaceutical Co. Ltd, Fanda Special Steel Technology Co. Ltd. and Guangdong Electric Power Development Co. Ltd. 

And if you notice. I have only got as far as companies beginning with the letter G and I have not included all up to that point.

So all those working Canadians who are contributing to the Canada Pension Plan be aware that you are investing in Chinese companies all the time and you more than five million Canadians who are receiving Canada Pension Plan benefits, some of that pension income comes from companies in places like China

And for you "green" folks that means investments and income that involves coal mining, steel manufacturing etc.

So the moral of the story is pretty obvious.

Our frequent pronouncements on human rights and environmental purity, and strict labor standards sort of lose their shine in light of these facts.

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