There’s something that I’ve noticed lately when it comes to how we talk about whatever is happening in Canada these days.
Every announcement from the government, every hot take from the newspaper columnists and the talking heads on the nightly news comes with a caveat: WE ARE IN A TRADE WAR.
And that means that any investment in Canada right now is viewed as a great investment. Just don’t look too hard at the fine print.
And for the most part, Canadians have been willing to go along on this ride.
That is until last month, when Prime Minister Mark Carney hung up a “For Sale” sign on Canada’s four largest airports to a room filled with the world’s richest investors.
This time, there has actually been some pushback. And I think that’s because it’s less clear who this is supposed to benefit.
It’s hard not to think that Mark Carney’s Liberal’s have secured bottomless latitude to extract value out of Canada wherever they see fit — as long as it’s in the name of capital “I” investment. And if you’ve got a problem with that, well, you’re probably not on Team Canada. Or maybe you just don’t understand it.
That’s certainly been the party line when it comes to the airport deal — even when we know that in other countries where they’ve tried the exact same thing the results have been crystal clear: prices go up and services get worse.
So when Peter Nowak, Canada’s preeminent competition watcher, called me up last week I knew exactly what was on his mind.
If our governing monopoly says it’s open season for big business in Canada, where exactly does that leave the rest of us?
Peter and I dig into all of that and do a little cross-country check-in on the state of Canadian competition.
NOTE: A version of this conversation also appeared in Do Not Pass Go
