China: Federal Officials

Canada Dept: As political and commercial stakes mount by the day, federal officials are secretly laying the groundwork for a yes-or-no decision on the $15.1-billion play by China s state-controlled oil giant for a precedent-setting role in Canada s oil sands development, according to The Star. The planned acquisition, which would be the largest investment in Canada s oil patch by a Chinese company, has quickly flared into a national controversy over the wisdom of allowing state-controlled companies, particularly from China, to bankroll Canadian natural resource businesses and oTTAWA A crossroads in Canada s relations with China is fast approaching, with Prime Minister Stephen Harper s government on the verge of a foreign investment decision that will spell out the risks Ottawa is willing to take to tap into Asia s economic juggernaut. The ruling on whether the proposed buyout of Calgary-based Nexen Inc. by the Chinese National Offshore Oil Corp. CNOOC can go ahead will greatly influence relations with Beijing, shape Canada s future energy strategy and signal Ottawa s willingness to cede control of natural resources to foreign interests. (www.immigrantscanada.com). As reported in the news.