Hopefully this question is the right one to ask in this thread.
Awhile back, Stephen Harper, PM of Canada, made a comment that protectionalism is a bad thing, especially in a global economy and he's right.
My question I guess is, where in the world did this all started with "Don't sell off the country! Keep the resources here."?
I mean where is the logic in locking down your resources and not trading with anything a net benefit to you or anyone?
For example, the takeover of Nexen and Petronas which has recently been approved after the Canadian Government gave the Chinese and Malaysians a set of conditions to follow (IE. Maintain head office and currently employees and at least 50% must be Canadian).
Malaysia stated that they are looking to build a new refinery in Canada which obviously means more jobs and such. CNOOC will be pouring money into the oil sands to further develop it. In the end of the day, these resources will be extracted and the royalties and taxes will be paid on it before being shipped off to wherever like any other resource.
Investors like that and will start pouring in their money as well.
Yet people are screaming like the Chinese are going to take over and such and that we can't sell off our resources despite the fact that Nexen only owns 1-2% of the oilsands.
I mean does anybody know where this attitude "Don't sell off" came from?