Thanks to one crooked company, Canada has had the shameful honour of dominating the World Bank’s corruption list since 2013
Prime Minister Justin Trudeau has said time and again that SNC-Lavalin jobs should be considered in deciding whether the company’s charges for bribery and fraud should be swapped for a deferred prosecution agreement, contrary to the existing legislation. At the same time, he says he strongly supports the rule of law, including in the context of Canada arresting the CFO of Chinese telecom giant Huawei, after a U.S.
The theoretical argument made by some experts is that corruption might not hurt growth, since bribery can facilitate trade and investment in countries with weak institutions and poor governance. On the other hand, corruption, the risk of expropriation, unenforceable contracts, violence and inefficient bureaucracy raises the risk of investing in a particular country. Indeed, most empirical studies tend to support the notion that a poor rule of law leads to less growth.
Of course one company’s crime spree won’t likely undo our reputation for law and order, but it sure has given Canada a black eye. .
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