Canada’s business deal with communist China makes Bob Dechert’s flirtatious e-mail exchanges with a female “Spy” and Canadian Border Services’ people partying with pro “agents” seem entry level.

While the United States of America considers Chinese telecommunications giant Huawei a “serious threat” to “national security,” the corporation thrives in its Markham headquarters.

One country’s security risk is another’s opportunity.

“If I were an American company today, and I’ll tell you this as the chairman of the House Permanent Select Committee on Intelligence, and you are looking at Huawei, I would find another vendor if you care about your intellectual property, if you care about your consumers’ privacy, and you care about the national security of the United States of America,” Congressman Mike Rogers told 60 Minutes’s Steve Kroft Sunday.

And a bi-partisan report released Monday urges America not to deal with Huawei, charging its roots — steeped in Red China’s militaristic past — cannot be trusted since “China has the means, opportunity, and motive to use telecommunications companies for malicious purposes.”

It’s an American election-time shocker but Canada doesn’t appear concerned.

And Ontario has invested $6.5-million in taxpayer grant money into the company.

“Our government is proud to partner with Huawei, one of the world’s leading telecommunications technology companies, on their most recent expansion into Ontario. Setting up their Canadian headquarters in Markham and their R&D Centre of Excellence in Ottawa speaks to the confidence Huawei has in Ontario’s skilled workforce and competitive business environment,” Economic Development Minister Sandra Pupatello said last year.

The Ontario Government web site also states “during Premier McGuinty’s latest trade mission to China, Huawei-Ontario announced a $67 million (investment) in the expansion of the company’s Ottawa R&D Centre to help consolidate the company’s leadership in the global marketplace, and help create 164 new good jobs.”

Huawei’s Canadian spokesman Scott Bradley, a former federal Liberal candidate who once worked for Bell, said his company is no threat and if you “scratch” beneath the surface of many international companies you will find military backgrounds.

“We recognize, that as a Chinese-based telecommunications company, it is fair and reasonable to expect that we would be under some scrutiny from government. For this reason, we have worked to conduct ourselves in a manner that positively reflects our contribution to Canada.”

He also said “we are creating new jobs, we are investing directly in Canadian R&D, we are opening up our global supply chain to Canadian manufacturers, and we are delivering leading-edge technologies that will ensure Canadian companies in both urban and rural Canada can be competitive with the rest of the world.”

Andrew Block, spokesman for Economic Development Minister Brad Duguid, said “we’ll review the 60 Minutes report, but while we are aware of issues raised in the past, we have not seen evidence related to Huawei’s activities here that are cause for concern in terms of our relationship with them.”

Still, if this were an espionage movie, there could be some great pillow-talk and barroom scenes.

But it’s not a movie; it’s our country’s future, said David Harris, director of Insignis and formerly with the Canadian Security Intelligence Service, whose director has spoken of extreme influence by Chinese government.

“Imagine if Germany and Japan had somehow achieved analogous levels of technological penetration in the prelude to WWII. The war would have been over for the West long before it began,” said Harris, adding about 1,000 spies or informants may be operating here. “They only do it because it works. We all have our needs and conceits. China takes the long view when it comes to intelligence.”

So, should Canada take a second look before finalizing the Alberta Nexen deal with the Chinese National Offshore Oil Company? And before any more former prime ministers, like Paul Martin or Jean Chretien, or senior cabinet ministers, like Stockwell Day, start doing business with China immediately after leaving public life? Or before Premier McGuinty’s fourth China trade mission next year?

The Americans don’t like the stench but it is noteworthy that Canada doesn’t seem to be holding its nose.

“As they say,” Harris said with an alarmist chuckle. “Money has no smell.”