RICS: After Buying Companies in Africa, China Eyes Canada’s Gold Firms

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.

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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.