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By Duanjie Chen, Special to Postmedia Network

The pending acquisition of Aecon by the Chinese firm CCCC International Holding Ltd. (CCCI) has triggered a nationwide debate in Canada.

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Aecon is a jewel among Canadian construction and engineering firms. CCCI, on the other hand, is an investment arm of the notorious China Communication Construction Co. (CCCC) – a state-owned enterprise (SOE) that built the artificial islands in the South China Sea and is on the radar screen of the U.S. Senate.

CCCC has also engaged in fraudulent business practices across multiple countries. Indeed, it was debarred in 2009 from any World Bank project for eight years.

The debate around the pending CCCI-Aecon deal has centred on the net benefit to Canada and its impact on our national security. China’s ambassador to Canada calls it “a common commercial transaction.” Yet a closer look at this deal shows that it is not a win-win deal for Canada.