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It is not true
Most of Canadas economic instituations are in fact protected by law from intense foreign ownership. The lastest figures released for 1998 show that there are 12,725 foreign owned corporations in Canada that account for roughly 31.5% of all corporate revenue generated in Canada.
The breakdown of the 12,725 foreign owned companies is as follows:
FOREIGN OWNERSHIP OF CANADIAN
CORPORATIONS*
(1998)
REGION # of Cdn. corps %
United States 6,819 53.6%
European Union 3,387 26.6
Pacific Rim 1,350 10.6
Other 1,122 8.8
South America 27 2.0
Mexico 20 1.6
TOTAL FOREIGN OWNED 12,725
*Gross revenue of at least $15-million or assets over $10-million
Captain Canada
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