Editor:
The Chinese state-owned enterprise CCCC, China Communication Construction Co., has bought Aecon Group, Canada’s third largest engineering/construction company, and simply needs the rubber stamp from Prime Minister Trudeau to complete the deal. Aecon is the lead contractor on B.C.’s Site C dam project.
As other major infrastructure projects in Canada come up for bid, our Canadian companies will have to bid against the Chinese government-controlled Aecon. The after tax profits of foreign-controlled companies flow back to that foreign nation and are not circulated here in Canada and therefore do not provide jobs for Canadians. Foreign ownership is a lose-lose situation. Foreign ownership by a state-owned entity is worse.
Will Site C go over budget and reap a financial windfall for CCCC? Will our B.C. premier rubber stamp also?
I am a retired professional engineer and I find this takeover of a fine Canadian engineering company by the Chinese government quite unnecessary and very distressing.
Garry Spencer, Gibsons
