The history of finance in Canada

Hartford Web Publishing is not the author of the documents in World History Archives and does not presume to validate their accuracy or authenticity nor to release their copyright.

Disbenefits of foreign TNC investment, prior to and after MAI
By Don E. McAllister, 14 December 1997. We do not need more foreign investment. It doesn't pay in the long run. It results in more money flowing out in the end than comes in. And we as a nation have less influence over transnational corporations than domestic corporations. But the MAI will facilitate the buying up of more of Canada by foreign capital. If MAI goes ahead we can expect a worsening balance of payments.
Financial Services Agreement
By Duff Conacher, Coordinator Democracy Watch, 19 January 1998. The World Trade Organization Financial Services Industry Agreement (FSIA) effects our banking sector the most, as our insurance, trust, and investment brokerage sectors are already wide open to foreign financial institution entry and ownership, mainly as a result of changes to legislation governing these sectors enacted in 1993-94.
How much of Canada do we want to sell?
By Mel Hurtig, Globe and Mail, 5 February 1998. Some important facts and questions about MAI have been missing. 45,000 new jobs as a result of MAI have become a mantra for virtually every federal cabinet minister and the Prime Minister, and are frequently cited by business columnists and editorial-writers. New numbers from the Investment Review Division of Industry Canada show otherwise.
The Cult of impotence
Second of two excerpts from a new book by Linda McQuaig, The Toronto Star, 22 March 1998. The Tobin tax was an idea that had been proposed by Nobel prize-winning economist James Tobin as an ambitious method of taxing the vast sums of money swirling around the world each day in international currency transactions to offer enormous benefits for those outside the financial community; that is, for most of the world's population.