The Canada-China Trade Deal

Summary

The script discusses a controversial agreement between Canada and China, allowing Chinese state-owned energy companies to invest in Canada’s oil sands, mining, and telecom sectors. It highlights the secrecy surrounding lawsuits these companies can file against Canadian laws that hinder profits, bypassing Canadian courts in favor of international tribunals. The agreement, which supersedes Canadian law for at least 31 years, was signed without public debate, sparking concerns about sovereignty and the loss of democratic control. It critiques the government's handling of the deal and the lack of transparency for Canadian citizens.

Takeaways

• 😀 A new investment promotion and protection agreement between Canada and China has been signed, focusing on state-owned Chinese energy companies and Canadian families.
• 😀 The agreement is expected to bring a vast influx of capital into sectors like oil sands, mining, and telecom in Canada.
• 😀 Under this agreement, Chinese state-owned companies will have the ability to sue Canadian governments over laws that hinder their profitability, such as environmental or worker safety regulations.
• 😀 These lawsuits will be settled in secret international tribunals, avoiding Canadian judicial oversight.
• 😀 The public will not be aware of these lawsuits, as they will be dealt with by professional arbitrators, not Canadian judges.
• 😀 If Canada loses a lawsuit, it will have to pay out millions of dollars under the terms of the agreement, similar to previous NAFTA disputes.
• 😀 This agreement was signed on September 9th in Vladivostok, Russia, and is set to become law by November 1st.
• 😀 The agreement is being implemented without significant public debate, bypassing parliamentary discussions on the potential impacts.
• 😀 The China-Canada FIFA (Foreign Investment and Future Agreement) is binding and will supersede future Canadian laws for at least 31 years.
• 😀 The agreement is considered irrevocable, meaning it cannot be undone or altered for the specified duration, effectively limiting Canada's future legislative flexibility.

Q & A

What is the Canada-China FIFA agreement mentioned in the transcript?

The Canada-China FIFA agreement refers to a new investment, promotion, and protection agreement between Canada and China, which aims to foster economic prosperity for Chinese state-owned energy companies while providing investment protection, especially in sectors like oil sands, mining, and telecom.

What sectors are expected to benefit from the Canada-China FIFA agreement?

The sectors expected to benefit from the agreement include oil sands, mining, and telecom, with a focus on attracting significant capital investment from Chinese state-owned energy companies.

How does the FIFA agreement affect Canadian laws?

The agreement allows Chinese companies to sue any level of Canadian government if existing laws, such as those related to worker safety or environmental regulations, interfere with their ability to maximize profits. This can be done in secret international tribunals rather than Canadian courts.

What are international tribunals, and how do they function in this context?

International tribunals are independent bodies where disputes between nations or corporations and governments are resolved. In the context of the FIFA agreement, these tribunals would handle lawsuits filed by Chinese companies against Canada, without public involvement or scrutiny from Canadian courts.

What does the phrase 'this is the same only more confidential' mean in the transcript?

This phrase refers to the idea that, like previous agreements under NAFTA, Canada could be required to pay out millions in compensation to foreign corporations if Canadian laws are found to interfere with their profits. However, under the FIFA agreement, these proceedings would be handled privately in international tribunals, rather than through public legal channels.

What could be the consequences for Canada if it loses a lawsuit under this agreement?

If Canada loses a lawsuit under the FIFA agreement, it could be required to pay compensation to Chinese companies for any lost profits caused by Canadian laws. This is a potential financial burden on Canadian taxpayers, as public funds would be used to cover these payouts.

Why does the script emphasize the secrecy of the lawsuits under the FIFA agreement?

The secrecy is emphasized to highlight the lack of transparency in the legal proceedings. Lawsuits will be handled by international arbitrators behind closed doors, preventing public oversight or involvement from Canadian judges, which the transcript suggests may not be ideal for democratic accountability.

What does the speaker mean by 'this is a democracy, who would do that'?

The speaker is expressing concern about the undemocratic nature of the agreement, implying that such significant decisions, which could affect Canadian laws and taxpayers, should involve public debate and parliamentary scrutiny, rather than being decided behind closed doors without the involvement of Canadian citizens.

When is the FIFA agreement expected to become law?

The FIFA agreement is due to become law on November 1st, following its signing on September 9th in Vladivostok, Russia.

What does the speaker mean by 'you did not sign up for this'?

The speaker is suggesting that Canadians did not expect or were not fully informed about the consequences of such agreements when they voted for the government, highlighting a potential disconnect between the electorate's intentions and the policies enacted by the elected officials.