HOW CANADA IS NOT TAKING CARE OF OUR CANADA PENSION PLAN – AND IS EXPOSING CANADIANS TO SERIOUS RISK By Jennifer Axworthy
For over a decade, without the knowledge of the Canadian people, the federal government has been investing Canada Pension Plan Funds in China. Pension funds are deducted at source from each pay cheque of every Canadian. These funds will become an important source of the retirement income of every Canadian. They should be treasured !! However, these funds are being held and managed by overseas interests in China.
ACCORDING TO The Financial Post and other media sources, as of March 2019 the Canada Pension Plan International Branch had invested $103.7 billion in Canadian funds in China. This fund operates under a CHINESE asset management organization that has limited Canadian political oversight or POWER OF INTERVENTION from the Canadian government.
Other countries that the Canada Pension Plan invests in are Luxenburg, India, the U.S. Brazil and Australia. Canada has been the largest institutionalized investor in China since 2019, yet the Canada Pension Plan has not been transparent about how much Canadian money it has invested in the past and how much it would invest in the coming years.
For a number of reasons, Canada should be extremely careful about the pension money it invests in places like China.
In 2017, for example, the Trudeau government invested $250 Million in the Asian Infrastructure Investment Bank (AIIB) to build infrastructure (roads, pipelines, bridges, etc.to advance China’s economic influence and authoritarian model of governance around the world. The AIIB is solely a Chinese-owned and-operated entity. The $250 million sounds as if Canada is rewarding China. Why should Canada be “rewarding” China when China has illegally incarcerated two Canadian citizens. Worse, why should Canada “reward” China when China has blocked Canadian exports of canola, pork and beef.
Under China’s oversight of Canada Pension Plan funds, the Chinese Communist Party has invested and become a major shareholder in Tencent Holdings Ltd, a Chinese tech conglomerate which is facing charges of censorship and surveillance at the direction of the Chinese Communist Party and which supports China’s horrific human rights abuses. As of May 2020, the Canada Pension Plan had invested close to three Billion dollars in Tencent Holdings Ltd. This has created a fund that has become one of the largest institutional investors in the Shenzhen-based corporation which owns WeChat, Riot Games and QQ along with dozens of other social media, game developer and on-line platforms.
The significance of this is that The University of Toronto’s Citizen Lab has made claims that Tencent Holdings Ltd. has been spying and surveilling Canadian and international WeChat users and censoring them in China. Ten Cent is using this data to invisibly train and build up WeChat’s Chinese censorship system. This same company in 2016 helped China target ethnic minorities for surveillance and censorship. Among these minorities are Buddhists in Tibet and Uyghurs in Xinjiang. Human rights groups have urged that these investment funds in Tencent be removed.
The Canadian government has been warned by Canada’s Opposition of the DANGER of the Canada Pension Plan investing billions of dollars in the Chinese company and the threat to Canada’s retirees that this imposes. AND EVEN THOUGH there remains political tension between Canada and China, the Canadian government still claims they will significantly increase their investment holdings in CHINA in the next few years. It is also worth noting that the Chinese Government has seized Canadian real estate (long-term care homes and assisted care residences) as well as corporate holdings (Bentall Centre in Vancouver and HSBC Bank in Ontario) to the tune of billions of dollars. We repeat : This potentially puts the retirement security of every Canadian at risk. ALL OF THIS OCCURS IN SECRET AND WITHOUT THE CONSENT OF CANADIAN CITIZENS
LET US ADD MORE CONTEXT TO THIS SITUATION:
1. THROUGH CANADA’S FOOLISH, VIRTUAL OPEN DOOR IMMIGRATION POLICIES, CHINA HAS CREATED SEVERAL LARGE COLONIES IN CANADA. THE TWO MOST PROMINENT ARE IN RICHMOND,B.C. AND MARKHAM, ONTARIO. BUT LARGE NUMBERS OF MAINLAND CHINESE LIVE IN OTHER PARTS OF CANADA AND ARE DECLARED SUPPORTERS OF CHINESE COMMUNIST PARTY INITIATIVES IN CANADA.
2. FOOLISH AND RELENTLESS MASS IMMIGRATION OF ETHNIC CHINESE FROM CHINA WAS THE CAUSE OF ONE OF THE GREATEST SOCIAL CATASTROPHES THAT HAS EVER OCCURRED IN CANADA. THAT CATASTROPHE WAS UNAFFORDABLE HOUSING. THE EFFECTS OF THAT CATASTROPHE CONTINUE TO REVERBERATE IN CANADA’S LARGER CITIES (PARTICULARLY VANCOUVER AND TORONTO).
3. THE ROOTS OF THAT CATASTROPHE GO BACK TO A FOOLISH AND LARGELY UNMONITORED POLICY OF BRINGING ASIAN INVESTORS (MOSTLY ETHNIC CHINESE) TO CANADA, SUPPOSEDLY TO CREATE JOBS FOR UNEMPLOYED CANADIANS. THAT POLICY WAS A GROSS FAILURE. IT WAS EXPLOITED BY HUNDREDS OF THOUSANDS OF THESE INVESTORS AND CONTINUES TO BE EXPLOITED TODAY. UBC PROFESSOR DAVID LEY HAS UNCOVERED THE EXPLOITATION IN GREAT DETAIL IN HIS BOOK “MILLIONAIRE MIGRANTS”. THE GREAT TRAGEDY IS THAT NONE OF THE CANADIAN POLITICIANS AT EVERY LEVEL OF GOVERNMENT WHO HAVE THE POWER TO REVERSE THIS EXPLOITATION) SEEM EVER TO HAVE READ WHAT DR. LEY AND REPORTERS SUCH AS KATHY TOMLINSON AND OTHERS HAVE UNCOVERED IN THE DARKNESS AND STENCH UNDER CANADA’S IMMIGRATION ROCKS.
4. IN FACT, THE SCANDALS THAT HAVE BEEN UNCOVERED HAVE BEEN MULTIPLIED BY THE RECENT ADOPTION OF A NEW INVESTOR IMMIGRANT PROGRAM IN CANADA’S RURAL AREAS. THE GOAL OF THIS PROGRAM IS TO HELP CANADA’S RURAL AREAS BUT IT IS LIKELY THAT THIS RURAL IMMIGRATION PROGRAM WILL MERELY DUPLICATE THE MESS THAT THE PREVIOUS IMMIGRANT INVESTOR PROGRAM CREATED IN CANADA’S LARGEST URBAN AREAS.
5. CANADA IS STILL IN THE MIDST OF THE CORONA PANDEMIC. THE FOLLOWING QUESTION REMAINS : HOW MUCH INVOLVEMENT DID THE CHINESE COMMUNIST PARTY HAVE IN THIS DISEASE? THE WORDS OF COMMUNIST PARTY GENERAL WEI FENGH REVERBERATE TODAY TODAY : (“CHINA HAS TO FIGHT AN UNRESTRICTED AND PERPETUAL WAR WITH ITS ENEMIES” SUCH AS THE.U.S., CANADA AND EUROPE…) IN OTHER WORDS, THE FOLLOWING SUSPICION REMAINS : IS THE PANDEMIC PART OF THE CHINESE COMMUNIST PARTY’S EFFORTS TO WEAKEN AND DOMINATE ITS ENEMIES AROUND THE WORLD?
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