There are several points I'd like to make here.
First, by allowing foreign companies to come into the Canadian market--as you mentioned, these large global multinationals--the evidence clearly shows that when you have a foreign company operating in Canada, they're able to use the R and D, the innovation that's in the network. So they're able to access these global networks of R and D and of innovation that Canadian companies in and of themselves cannot do. That's point number one.
Secondly, I think the way to regulate it.... As Professor Morck said, when you have an abusive monopoly, we can regulate that because that kind of activity should be regulated and shouldn't be allowed. This is the point I tried to make earlier, and I think it's fundamentally important. The way to protect Canadian companies is to provide them with an environment where they can be globally competitive, where they can be innovative. So when you restrict foreign entry, what happens is the discipline imposed on these Canadian companies dissipates because there is no other Canadian company that's able to buy them up.
When you look at financial markets, when managers do a good job, stock prices rises. When managers do a bad job, stock prices fall. The way financial markets discipline managers is that when managers are doing a poor job, other companies could come in and buy up those companies and replace management. That cannot happen in a concentrated industry like telecom when you're restricting foreign entry.
So the best way to protect Canadian companies is to allow them to be globally competitive so that in the presence of the possibility of a foreign company coming in, they are the ones that are making acquisitions globally, as opposed to foreigners necessarily buying up the Canadian companies.
I think you're just making the assumption automatically that Canadian companies are scared, that the Canadian companies are not going to be able to compete. The evidence clearly shows that Canadian companies are doing well globally, and I would like to think that in the presence of foreign competition our Canadian companies could win.