CP Rail, losing another piece of Canadian history

This small piece tacked to the bottom of today’s Star editorial ties in with what I’ve been saying about the SPP and the danger posed to Canadians by closer integration with the U.S. Our economic sovereignty is being eroded one Canadian institution at a time… Do we even care? I certainly do! What about you??

EDITORIAL

TheStar.com – comment – Last spike for CP Rail?

Last spike for CP Rail?

Jul 20, 2007 04:30 AM


As the first coast-to-coast rail link in the country, the Canadian Pacific Railway was an expression of, and a means to, Canada’s economic sovereignty. It was a force of nationalism, built in opposition to the strong southward pull of the United States.

But now CP Rail is a target of private equity firms and U.S. railroads. Losing this piece of our history would merely be lamentable were it not for the fact that CP is just the latest Canadian firm to be drawn into the frenzy of foreign takeovers eroding our economic sovereignty.

Apologists for this hollowing out of our economy call it an inevitable consequence of globalization and say we should take it as a sign of the confidence foreign investors have in the Canadian economy. But the more we become a nation working for foreign owners who make all the major decisions, how confident in our future should we be?

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