Did Canada just sell out a huge chunk of its sovereignty?
Canada ratified a radical new trade agreement with China on September 12. According to critics, it puts both Canada’s resources and its ability to pass laws into the hands of a secret tribunal dominated by foreign judges.
Canadian International Trade Minister Ed Fast hailed the Foreign Investment Promotion and Protection Agreement (fipa) as a step in the right direction for Canada: “Investment agreements provide the protection and the confidence Canadian investors need to expand, grow and succeed abroad. We remain committed to opening new markets around the world for Canadian companies, including in the fast-growing Asia-Pacific region,” Fast said. “This fipa will create jobs and economic opportunities for Canadians in every region of the country.”
On the surface, this agreement looks great. Both countries are supposed to benefit. But in reality, Canada just gave away part of its sovereignty for nothing in return. Continue reading