RICS: After Buying Companies in Africa, China Eyes Canada’s Gold Firms
![china canada flags](https://watcher.guru/news/wp-content/uploads/2024/02/china-canada-flags-1024x614.jpeg.webp)
BRICS country China has acquired or outright purchased several companies in developing nations across Africa. The Communist nation has also spread its wings across Pakistan and Sri Lanka and controls a large section of companies. In addition, China provides loans to developing nations and ends up controlling their ports when they fail to repay.
Also Read: BRICS to Launch a Single Currency Similar to Euro?
The developing countries in Africa are now at the mercy of China as the Communist nation controls a portion of their economy. The BRICS leader China could be eyeing similar tactics in Canada but might find it hard to get a footing. Canada is a developed and rich country and will not sell out its industries completely to China.