Foreign ownership of companies of Canada has long been a controversial political issue in Canada. Concerns regarding foreign ownership generally regard ownership of previously 'Canadian' assets by individuals or companies based in other countries.
Note that the exact definition of "foreign-owned" is debated, and that this article uses the working definition established at foreign ownership. Some estimates state that more than 50% of the petroleum and gas industry and more than 50% of all manufacturing in Canada is foreign-owned and foreign-controlled.
Historically, foreign ownership was a political issue in Canada in the late 1960s and early 1970s, when it was believed by some that U.S. investment had reached new heights (though its levels had actually remained stable for decades), and then in the 1980s, during debates over the Free Trade Agreement.
But the situation has changed, since in the interim period Canada itself became a major investor and owner of foreign corporations. Since the 1980s, Canada's levels of investment and ownership in foreign companies have been larger than foreign investment and ownership in Canada. In some smaller countries, such as Montenegro, Canadian investment is sizable enough to make up a major portion of the economy. In the British province of Northern Ireland, for example, Canada is the largest foreign investor. By becoming foreign owners themselves, Canadians have become far less politically concerned about investment within Canada.
Of note is that Canada's largest companies by value, and largest employers, tend to be foreign-owned in a way that is more typical of a developing nation than a G8 member. The best example is the automotive sector, one of Canada's most important industries. It is dominated by American, German, and Japanese giants. Although this situation is not unique to Canada in the global context, it is unique among G-8 nations, and many other relatively small nations also have national automotive companies.
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