Navigating the Choppy Waters of Globalization

Headlines decrying a foreign takeover of large domestic-based businesses have been a common sight since the 1980s. However, as columnist Madelaine Drohan points out, these purchases happen all over the world, by independent companies from a diverse set of countries. She sees no hegemon struggling to rise to global economic domination through strategic purchasing, although the UK, the US and most recently China have faced such accusations. Canadians, long used to the influence of their southern neighbor, find worries about a "hollowing" of the American economy laughable. While Drohan agrees that some national-security reviews of proposed sales are appropriate, the widespread fear of a benign and productive phenomenon is excessive. – YaleGlobal