Former Canadian Prime Minister Justin Trudeau on Thursday revealed that economic pressure from Western allies had risked pushing Canada closer to China.
Speaking at the CNBC CONVERGE LIVE event in Singapore, Trudeau said the U.S. and Europe had “almost driven” Canada “into China’s arms” during a period of intense competition in the aerospace sector.
‘Dump Truck Full Of Money’ On The Table
He pointed to the struggles of Canadian aircraft maker Bombardier (OTC:BDRPF) and its C Series aircraft program, launched in 2008. According to Trudeau, pressure from rivals Airbus (OTC:EADSF) and Boeing (NYSE:BA) made it difficult for Bombardier to secure airline buyers, opening the door for Chinese investors to step in with what he described as a “dump truck full of money.”
Canada ultimately avoided a Chinese deal after Airbus took a majority stake in the program in 2018, later rebranded as the A220. But Trudeau framed the episode as a …
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