When asked what “extra” Canada does to appeal to foreign investors over the United States, Prime Minister Mark Carney replied, “Well, we have the rule of law,” a remark that was met with laughter in the room. This comment reveals a staggering disconnect from reality — a political fantasy that frames Canada as a bastion of stability against the “shaky and unpredictable” nature of its largest trading partner. An analysis of the objective investment climate exposes this assertion as nothing more than political marketing, divorced from economic reality.

While investment risk in the United States is often political, external, and transactional, the risk in Canada is systemic, legal, and structural. For long-term, capital-intensive projects, this deep, internal rot is fundamentally more toxic

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