Canadian Nursing Home Deal Spurs Questions About Chinese Money [The New York Times]
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Source: The New York Times
“There’s an emerging pattern here of being naïve with regard to China, and lax with regard to national security,” said Michael Byers, a Canada Research Chair at the University of British Columbia. Photo Wu Xiaohui, the chairman of Anbang Insurance Group, which bought a Canadian retirement home chain. Mr. Wu is in Chinese detention, causing concern for Anbang companies in Canada. Credit Thomas Peter/Reuters That leaves Canadian officials in a fix. China has helped lift Canada’s economy with tens of billions of dollars a year in exports. Its investments are often in businesses like nursing homes that could use the money. Many of those transactions have little to do with national security or other sensitive issues. The anxieties, said Yuen Pau Woo, who represents British Columbia in Canada’s Senate, reflect “a longstanding tradition to simply be suspicious of and prejudiced against foreign ownership.” Advertisement Continue readin
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