CANADA: A Modest Response

We are coming out with a foreign-investment policy that is going to be the weakest of any industrialized nation's. If I were an American, I would be amazed by the sweet reasonableness of it.

—A Canadian Cabinet Minister

When that long-awaited policy statement was finally released last week, U.S. investors were indeed pleasantly surprised. After two years of intense study by a task force under Canadian Revenue Minister Herbert Gray, the Ottawa government decided merely to "review" proposed takeovers of sizable Canadian companies by foreigners and to permit only those that seem...

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