Liberal Green Economy will Bankrupt Canada or will Carney merely borrow money from China and put Canada under the control of China?

From Blacklock:

“Climate change targets will cost Canadian electrical utilities about two thirds of a trillion dollars, Environment Minister Steven Guilbeault said yesterday. Guilbeault in a legal notice said the country had no choice but to stop burning fossil fuels for electricity..."

From the article and report - Regulatory Impact Analysis Statement issued by Guilbeault. (Blacklock)

“A net zero economy will require far more electricity than we use today,” wrote the department. “To cut greenhouse gas emissions, households and businesses will increasingly switch from fossil fuels to using energy in the form of electricity. For example electric vehicles will displace vehicles with internal combustion engines. Buildings will be heated with heat pumps rather than natural gas.

… Analysis Statement. “The required costs to build and maintain Canada’s electricity system to meet expected growth in demand is estimated to be approximately $690 billion between 2024 and 2050 in present value terms.”

The above is merely the tip of that iceberg. It seems Canada is merely following the U.S. leader, when it comes to removing the subsidies for electric. December 1, 2023: (CTV, Dec. 1, 2023)

“But they are still years away from being able to produce an electric vehicle without materials and components from China.

"China has routinely shown a blatant disregard for fair competition, unfairly leveraged state-sponsored investments, and wielded their market domination in key industries as a cudgel," Manchin wrote in a Nov. 13 letter to Treasury Secretary Janet Yellen. China is currently responsible for nearly three-quarters of the world's cathode production, 92 per cent of anode production and 76 per cent of lithium-ion battery cell production, Manchin wrote.

The complexity of the rules is shown by controversy over Ford Motor Co.'s plans to build a factory in Michigan that would employ about 1,700 people to make batteries for new and existing EVs. Ford says a wholly owned subsidiary would own the factory and employ the workers. But China's Contemporary Amperex Technology Co. Limited, or CATL, which is known for its lithium-iron-phosphate expertise, would supply technology, some equipment and workers.”

Now wasn’t that telling. And what do we have is “The $450 million for the Green Climate Fund comes from the $5.3 billion the federal government has earmarked for international climate finance over five years. The Green Climate Fund supports developing countries' efforts to transition to low-carbon, climate-resilient economies and protect nature. "Money talks, so we encourage other contributors, traditional and new, to use this second replenishment of the Green Climate Fund to raise their ambition," Guilbeault said.” (CBC, July 13, 2023)

What should be concerning Canadians is, from government web-site, is that Canada, in 2018, had entered into a Memorandum of Understanding with China regarding Climate Change. (Government of Canada) And although Canada might not be funding China directly, China is receiving funding through “The Green Climate Fund supports developing countries' efforts to transition to low-carbon, climate-resilient economies and protect nature,” as it is considered a “developing country.”

Canada and the still involved Minister “Guilbeault [is] not giving up on getting a global commitment to phase out unabated fossil fuels. The world's biggest emitters in the G20 still haven't agreed on a phase-out plan." (CBC, July 28, 2023)

“China, Saudi Arabia obstructing consensus, EU says

"The G20 meetings in Chennai gave the world's biggest polluters a chance to take concrete steps ahead of a G20 leaders' meeting in September in New Delhi and the COP28 Summit in the United Arab Emirates, which starts in November…

"But the meeting ended without an agreement or joint statement on Friday.

"China and oil-rich Saudi Arabia backed away from making commitments in the G20 talks, members of a European delegation said."

So, what have we learned?

1. China, as has previously been shown it wants to corner the market on “green tech,” and “China aims to prevail in the fast-growing and lucrative “clean products” markets…But China’s position has improved steadily, not only in global economic terms but also as far as “green technologies” are concerned. In less than two decades China has become one of the world’s top producers of low energy light bulbs, wind turbines, solar panels, solar water heaters, and batteries for electric cars… Many of the major players in these markets are now Chinese companies. They benefit from the size of the domestic market that allows huge economies of scale and, therefore, low production costs. Goldwind, United Power, Envision, Ming Yang are among the main wind turbine manufacturers in the world. The leaders in solar module production are Jinko Solar, Trina Solar, JA Solar, Suntech Power, and Yingli Solar. The same can be said in the fields of lithium ion batteries for cars or hydro-electric generation. These companies and many others – backed by the state when they are not (partially) state owned…^[1];
2. Canada has entered into a MOU with China regarding climate action;
3. China’s Belt and Road Initiative involves: “B&R2: Facilities connectivity, including improving the connectivity of infrastructure construction plans and technical standard systems among countries along the Belt and Road; forming regional infrastructure network; and promoting green and low carbon infrastructure construction by taking into full account the impact of climate change.”^[2];
4. Mark Carney, in his “blind trust” (albeit he knows what shares he owns), was on the Board of Directors of Brookfield and Bloomberg, which are both invested in the Asian Infrastructure Bank (AIIB) that funds China’s Belt and Road Initiative(s), and now we find out that when he was an advisor to Prime Minister Trudeau he was involved in meetings with China regarding finances; (National Post, March 25, 2025)

We all need to be questioning just how involved the Liberal government is with China, considering the Belt and Road promo, the involvement of China with Justin Trudeau and various ministers and now the involvement by Mark Carney. Do we want to become merely a pawn for China? Remember the China tariffs Carney isn’t talking about or the execution of Canadians held by China. This is our future if we don’t take a stand. We all thought Justin Trudeau was horrific for our economy and country – Carney should concern us, all, even more.

Footnotes

^[1] “What Role for China in the International Climate Regime”, p. 12 – 16.

^[2] Pingfan Hong, 26 September 2017, Vienna

Pingfan Hong is the Director of the Development Policy and Analysis Division in the United Nations Department of Economic and Social Affairs (UN/DESA). This is a background note for his keynote speech at the First session (Global Goals for Local Impact: Strengthening Policy Coordination for the Successful Implementation of Development Goals) of the UNIDO conference on BRIDGE for Cities, 2nd BRI Event, held in Vienna, Austria from 26 to 28 September 2017. “Integrated policy approaches to the implementation of the 2030 Agenda,” p. 7.