Wednesday, February 8, 2012

China, Canada, Oil, and the Election

China Daily rep[orts on the completion of the agreements between China and Canada giving China access to most of Canada's oil reserves. They state:

Wen Jiabao on Wednesday urged the forging of a long-term, stable and diversified partnership with Canada in the energy and resource sector.

"The negotiation on China-Canada investment protection agreement has concluded. We hope to sign the important document as soon as possible to facilitate two-way investment," Wen told visiting Canadian Prime Minister Stephen Harper in the Great Hall of the People.

Harper came to Beijing Tuesday for his second China visit since taking office in 2006.

Calling the two economies highly compatible, Wen proposed to draw up an all-round plan on boosting bilateral economic cooperation based on joint research on economic complementarities.

One wonders what the current Administration may think regarding their decisions to thwart the US relationship here. It will drive costs sky high while playing into the hands of a potential global competitor or possibly even worse.