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This article on Ottawa Citizen brought my attention and concerns on trade protectionismand stereotyping on China or Chinese owned business in terms of food safety, product quality and natural resource acquisition etc. I am so surprised to see how this normal business activity turns to public or political concern here. What if the investors are Jewish Immigrant, Italian immigrants, or any other countries’ immigrants? Will that cause such big concern here?
It seems to me the “Chinese” mentioned in this article are Legal Chinese Immigrants, not Chinese from China representing China. It is just very normal investment initiated by Chinese immigrant, now it turns to big concern on China’s expansion of foreign agriculture land and resources. Ironic enough, right?
The only thing related to China mentioned in the article is that these Chinese immigrants submitting offer may have some funds from China (how could media think this fund from China is from Chinese government, rather than some rich business owners’ private bank account?). Farmland business is big business; it is very common for some wealthy Chinese immigrants to use their own funds from China for this big investment.
http://www.ottawacitizen.com/news/todays-paper/Chinese+investors+Quebec+farmland/2736149/story.html
Chinese investors eye Quebec farmland
Farmers' union worries about food security
By David Johnston, Canwest News ServiceMarch 28, 2010
Quebec's powerful l'Union des producteurs agricoles says it is concerned by reports of investors of Chinese origin inquiring about buying large tracts of agricultural land in the province.
The UPA says Quebec needs to make sure this doesn't grow into something that threatens the province's food security, or is connected to new international property speculation in agricultural land.
Speculative buying would drive up Quebec farm prices and make it very difficult for young Quebecers to get into farming and compete with multinational agricultural giants, says the UPA president.
"It's clear that this is something that we will want to follow very closely," Christian Lacasse, president of the UPA, said.
Quebec's leading agricultural newspaper, the Terre de Chez Nous, reported in its March 18 edition that a Montreal-area firm purporting to represent Chinese buyers has been making purchase offers on agricultural land in recent weeks.
The firm, Monaxxion, says it is looking to buy 40,000 hectares of land in Canada. Monaxxion agent Pierre Bergeron told the Montreal Gazette late last week that western Canadian farmers have been unreceptive to selling to buyers of Chinese origin and that his clients are now looking at the Quebec market.
He said he is representing people of Chinese origin who are legal immigrants to Canada and who have their own sources of financing in China.
Quebec has rules against foreign ownership of farmland, but there is nothing to prevent immigrants from buying farmland.
However, farmers are leery of Monaxxion.
Sherbrooke's La Tribune newspaper reported Friday that a farmer in St. Clotilde de Horton recently backed out of a tentative $30-million deal with Monaxxion after concluding the firm and its clients weren't as solid as he had been led to believe.
While Lacasse says it remains to be seen who Monaxxion's clients really are, he says fears over their motives are justified in light of how China has been investing heavily in agricultural land in Africa and other Third World nations.
With 20 per cent of the world's population and an increasingly wealthy middle class, China has been actively seeking new supplies of food, hydrocarbons and other commodities on international markets.
The country has been trying to buy into Canada's oilsands developments. It has reconfigured its foreign-aid programs to concentrate on helping countries such as Zambia that have rich copper deposits. And it has worked diligently to develop closer relationships with oil-rich countries such as Iran.
Quebec farmers, meanwhile, have a succession problem on their hands. Many farmers in Quebec are the eldest sons of large families who inherited their farms from their parents. Today, they are approaching retirement and succession interest among their two or three children isn't strong. To retire comfortably, they need to be able to sell their farms at a good price.
As for people of Chinese origin, there has been speculation that investor-class immigrants might now be looking at farms as new stepping stones into Canada, with family and extended-family members available as new sources of farm labour. At the moment, Quebec farmers are importing farm labour from Mexico and Central America.
More needs to be learned about Monaxxion's clients before a clearer picture can emerge about what these expressions of buyer interest potentially mean for Quebec farming, says Daniel Mercier Gouin, a professor of agricultural economics with the Université Laval.
But Gouin says there is no longer any doubt that the world is seeing the beginning of a speculative boom in agricultural land.
To date, there have been plenty of inquires and even purchase offers by Monaxxion, but nothing really solid in terms of sales.
However, Bergeron of Monaxxion says there are some important transactions being negotiated right now. And he said he plans to make his investors more open for public scrutiny.
It seems to me the “Chinese” mentioned in this article are Legal Chinese Immigrants, not Chinese from China representing China. It is just very normal investment initiated by Chinese immigrant, now it turns to big concern on China’s expansion of foreign agriculture land and resources. Ironic enough, right?
The only thing related to China mentioned in the article is that these Chinese immigrants submitting offer may have some funds from China (how could media think this fund from China is from Chinese government, rather than some rich business owners’ private bank account?). Farmland business is big business; it is very common for some wealthy Chinese immigrants to use their own funds from China for this big investment.
http://www.ottawacitizen.com/news/todays-paper/Chinese+investors+Quebec+farmland/2736149/story.html
Chinese investors eye Quebec farmland
Farmers' union worries about food security
By David Johnston, Canwest News ServiceMarch 28, 2010
Quebec's powerful l'Union des producteurs agricoles says it is concerned by reports of investors of Chinese origin inquiring about buying large tracts of agricultural land in the province.
The UPA says Quebec needs to make sure this doesn't grow into something that threatens the province's food security, or is connected to new international property speculation in agricultural land.
Speculative buying would drive up Quebec farm prices and make it very difficult for young Quebecers to get into farming and compete with multinational agricultural giants, says the UPA president.
"It's clear that this is something that we will want to follow very closely," Christian Lacasse, president of the UPA, said.
Quebec's leading agricultural newspaper, the Terre de Chez Nous, reported in its March 18 edition that a Montreal-area firm purporting to represent Chinese buyers has been making purchase offers on agricultural land in recent weeks.
The firm, Monaxxion, says it is looking to buy 40,000 hectares of land in Canada. Monaxxion agent Pierre Bergeron told the Montreal Gazette late last week that western Canadian farmers have been unreceptive to selling to buyers of Chinese origin and that his clients are now looking at the Quebec market.
He said he is representing people of Chinese origin who are legal immigrants to Canada and who have their own sources of financing in China.
Quebec has rules against foreign ownership of farmland, but there is nothing to prevent immigrants from buying farmland.
However, farmers are leery of Monaxxion.
Sherbrooke's La Tribune newspaper reported Friday that a farmer in St. Clotilde de Horton recently backed out of a tentative $30-million deal with Monaxxion after concluding the firm and its clients weren't as solid as he had been led to believe.
While Lacasse says it remains to be seen who Monaxxion's clients really are, he says fears over their motives are justified in light of how China has been investing heavily in agricultural land in Africa and other Third World nations.
With 20 per cent of the world's population and an increasingly wealthy middle class, China has been actively seeking new supplies of food, hydrocarbons and other commodities on international markets.
The country has been trying to buy into Canada's oilsands developments. It has reconfigured its foreign-aid programs to concentrate on helping countries such as Zambia that have rich copper deposits. And it has worked diligently to develop closer relationships with oil-rich countries such as Iran.
Quebec farmers, meanwhile, have a succession problem on their hands. Many farmers in Quebec are the eldest sons of large families who inherited their farms from their parents. Today, they are approaching retirement and succession interest among their two or three children isn't strong. To retire comfortably, they need to be able to sell their farms at a good price.
As for people of Chinese origin, there has been speculation that investor-class immigrants might now be looking at farms as new stepping stones into Canada, with family and extended-family members available as new sources of farm labour. At the moment, Quebec farmers are importing farm labour from Mexico and Central America.
More needs to be learned about Monaxxion's clients before a clearer picture can emerge about what these expressions of buyer interest potentially mean for Quebec farming, says Daniel Mercier Gouin, a professor of agricultural economics with the Université Laval.
But Gouin says there is no longer any doubt that the world is seeing the beginning of a speculative boom in agricultural land.
To date, there have been plenty of inquires and even purchase offers by Monaxxion, but nothing really solid in terms of sales.
However, Bergeron of Monaxxion says there are some important transactions being negotiated right now. And he said he plans to make his investors more open for public scrutiny.
