The Competition Bureau of Canada gave the following conclusion about the recent Maytag acquisition by Whirlpool.
“Although post-merger market shares were significant in the laundry segment, the Bureau’s analysis revealed that effective competition would remain from a combination of foreign competitors. These remaining competitors have the ability to expand their operations and new entry is occurring. Moreover, the growth of big box retailers and their support of offshore brand name manufacturers will continue to provide consumers with competitive choices.”
I don’t know about you, but what I read here is that it is OK to reduce competition within North America as long that there is competition from foreign companies. In other words, the jobs that used to be in North America are now jobs in foreign companies. Does this make sense – does this protect the North American economy?