Canadian investment in US surpassed American investment in Canada for the first time in the last quarter. Statistics Canada reported:
‘On a geographical basis, Canada posted a first net asset position with the United States in the fourth quarter. This position has been increasing throughout the year, from a net liability position of $222.3 billion at the end of 2014 to a net asset position of $82.2 billion at the end of 2015.’
This must be tough news for all those false nationalists who have decried American investment in Canada . Hardly anyone ever talks about our foreign investment . Our investment in the UK and Norway in the offshore oil and gas business. SNC Lavalin has been involved in Chinese development for decades including the hugh hydro gorge project. I remember being in Bejing and Japan and Hong Kong with Canadian businessmen decades ago both investing and borrowing in those jurisdictions. Canadian investment in Latin America is very large as well as our banks being present there.
Of course, you won’t see such information on the front page of our newspapers because it does not fit the narrative of gigantic American investment here and implying little foreign investments by Canadian companies and individuals.