Search results for ‘Canadian Commercial Corporation

Guardians of South American Rainforest Charge Canada with Destroying It

(February 1, 2000) In the last remaining tropical rainforest of Colombia’s Caribbean coast, the Embera Katio indigenous people are fighting for their survival and for compensation for the destruction of their rainforest. The Urrá dam, built in part with financing from Canada’s Export Development Corporation, is the cause of their woes.

The new mercantilists

(November 30, 1999) One year before mexico touched off the Third World’s debt crisis by suspending payments to foreign creditors, British Prime Minister Margaret Thatcher rose proudly to announce in the House of Commons that her government had just committed millions to the Mexican government to build the $2 billion Sicartsa steel plant:

Givers and takers

(November 30, 1999) Most Taxpayers in the rich industrialized countries believe, as the Pearson Commission inquiry into foreign aid believed, that “it is only right for those who have to share with those who have not.” Much of the Western World’s sharing, though, has been in the form of loans, not gifts. The Third World has borrowed about one-third of the $400 billion in foreign aid that it has received from the rich countries’ national aid agencies.

EDC is buying off its opponents public-private collusion to create export cartel

(November 18, 1999) In 1993, the federal government greatly expanded the powers of the Export Development Corp. by allowing it to move into the private sector’s turf and finance Canadian firms’ activity in Canada. As a sop to the banking and insurance industries, which cried foul upon learning that they would soon face unfair competition from this Crown corporation, the government promised to review the new EDC legislation five years hence. That review, conducted by the law firm of Gowling Strathy & Henderson and now before the standing committee on foreign affairs and international trade, fails utterly to address EDC’s fundamental problems.

What Thai citizens should know about Canada’s nuclear power program

(February 1, 1999) Atomic Energy of Canada Limited (AECL) wants to sell a CANDU (Canadian Deuterium Uranium) reactor to Thailand. Atomic Energy of Canada Limited has not had a single order for a CANDU reactor in Canada since 1982, but in the last decade, AECL has sold four reactors to South Korea, two to China, and two to Romania. Now it is hoping for additional sales to these countries, as well as to Indonesia, the Philippines, Thailand, Turkey, and Vietnam. AECL’s sales are taxpayer financed through the Export Development Corporation, a federal Crown corporation. 

China’s great leap backward

(September 21, 1998) The tragedy of the Three Gorges dam goes beyond the nearly two million people who will be resettled from their homes, villages, farms, temples, and work places to make way for it, beyond the 1,300 sites of cultural antiquities and the 100,000 hectares of precious farmland that will be submerged forever under the 600 kilometre long reservoir, and beyond the rare species that it will likely render extinct. Ironically, the tragedy created by the Three Gorges will also extend to the economy and its electricity sector – the chief justification for building the dam.