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Industry committee The short answer is that it would depend on the sector. As you know, some sectors are not going to recover for a long time. If you took the sectoral approach and you figured that sector was so crucial and strategic to the Canadian economy that, if it was acquired by a foreign ent
June 8th, 2020Committee meeting
Daniel Schwanen
Industry committee Sorry.
June 8th, 2020Committee meeting
Daniel Schwanen
Industry committee They do work together, so I was very interested in Monsieur Gagnon's presentation for that reason. It's not like you're a foreign company here and you can run roughshod over Canadian law. As Monsieur Gagnon mentioned, the Canadian Securities Administrators has recently made refor
June 8th, 2020Committee meeting
Daniel Schwanen
Industry committee We're not here to do China any favours. Some exchanges, some investments even, might still be in the interests of both, and we should cautiously pursue those while restricting others, absolutely.
June 8th, 2020Committee meeting
Daniel Schwanen
Industry committee That's correct, yes. It's to give more specificity to the guidelines, which may also include being more welcoming. Right now the statement, I believe, mentions food security and medical, and that's quite understandable, but it also leaves the door open to more scrutiny of pretty
June 8th, 2020Committee meeting
Daniel Schwanen
Industry committee Yes, for sure. I think it was mentioned that other countries are on that track as well, but they are being more specific, and we're not. That's why a lot of my comments are about whether we can be clearer about what we need.
June 8th, 2020Committee meeting
Daniel Schwanen
Industry committee I would support anything that sustains Canadian industry and cleaner energy in particular, so to the extent these high tariffs prevent the development of that industry, absolutely, I would support reducing or eliminating tariffs, generally speaking.
June 8th, 2020Committee meeting
Daniel Schwanen
Industry committee I do think national security should be the focus. One of the things we also said, though, is that as we use that national security lens to look at proposed investments, which by the way could be an investment of any size—it could be one dollar by anybody, so that takes care of
June 8th, 2020Committee meeting
Daniel Schwanen
Industry committee Yes, Mr. Leblond. Do we have time?
June 8th, 2020Committee meeting
Daniel Schwanen
Industry committee I wish to say that focusing on foreign ownership per se is not exactly the issue. We've had lots of Canadian investments that went bust all by themselves, including in foreign countries. We have a long list of those. The question is whether the Canadian or foreign investor follo
June 8th, 2020Committee meeting
Daniel Schwanen
Industry committee Thank you very much for that question. I'll go straight to the heart of what I was trying to say. I lost track of my text there for a minute. As you know, any investment can be scrutinized for national security reasons. What I was saying is that in the current context, those r
June 8th, 2020Committee meeting
Daniel Schwanen
Industry committee No, it depends on the sectors. I can see that some governments with strategic objectives would want to come in here, whether they're authoritarian or not, take over a Canadian company, and then not act in Canada's interest. To me, that really is the question. That's the key thing
June 8th, 2020Committee meeting
Daniel Schwanen
Industry committee Thank you, Chair. Thanks to the committee for this invitation. The question of whether companies within strategic industries have been devalued or have lost value would be easier to answer if we had a clearer idea of what constituted a “strategic” industry, and there, let me pi
June 8th, 2020Committee meeting
Daniel Schwanen