Michael Coates has some words of advice for Canadian executives: be careful what you wish for.
[np_storybar title=”Why China’s mood is souring on Canada’s oil patch” link=”http://business.financialpost.com/2014/07/10/why-chinas-mood-is-souring-on-canadas-oil-patch/?__lsa=286c-55d7″]Barely two years since the national outcry over China’s aggressive push into Canada’s oil patch, some of the major acquisitions are looking messy to hopeless. Read on
Coates, who built Hill+Knowlton Strategies into Canada’s top foreign-takeover consultancy, said myopic business leaders are more responsible than Prime Minister Stephen Harper for the country’s stricter foreign takeover rules and the resulting loss of capital investment from countries such as China.
“All politicians do is respond to the pressure they are put under,” New York-based Coates, 58, now chief executive officer of Hill+Knowlton Strategies Americas region, said in an interview. “Mr. Harper understands full well that we need to be an open economy. Let’s not let parochial politics affect our reputation as an open marketplace.”
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