Business
Hudson’s Bay Bid Raises Red Flags Over Foreign Influence
From the Frontier Centre for Public Policy
A billionaire’s retail ambition might also serve Beijing’s global influence strategy. Canada must look beyond the storefront
When B.C. billionaire Weihong Liu publicly declared interest in acquiring Hudson’s Bay stores, it wasn’t just a retail story—it was a signal flare in an era where foreign investment increasingly doubles as geopolitical strategy.
The Hudson’s Bay Company, founded in 1670, remains an enduring symbol of Canadian heritage. While its commercial relevance has waned in recent years, its brand is deeply etched into the national identity. That’s precisely why any potential acquisition, particularly by an investor with strong ties to the People’s Republic of China (PRC), deserves thoughtful, measured scrutiny.
Liu, a prominent figure in Vancouver’s Chinese-Canadian business community, announced her interest in acquiring several Hudson’s Bay stores on Chinese social media platform Xiaohongshu (RedNote), expressing a desire to “make the Bay great again.” Though revitalizing a Canadian retail icon may seem commendable, the timing and context of this bid suggest a broader strategic positioning—one that aligns with the People’s Republic of China’s increasingly nuanced approach to economic diplomacy, especially in countries like Canada that sit at the crossroads of American and Chinese spheres of influence.
This fits a familiar pattern. In recent years, we’ve seen examples of Chinese corporate involvement in Canadian cultural and commercial institutions, such as Huawei’s past sponsorship of Hockey Night in Canada. Even as national security concerns were raised by allies and intelligence agencies, Huawei’s logo remained a visible presence during one of the country’s most cherished broadcasts. These engagements, though often framed as commercially justified, serve another purpose: to normalize Chinese brand and state-linked presence within the fabric of Canadian identity and daily life.
What we may be witnessing is part of a broader PRC strategy to deepen economic and cultural ties with Canada at a time when U.S.-China relations remain strained. As American tariffs on Canadian goods—particularly in aluminum, lumber and dairy—have tested cross-border loyalties, Beijing has positioned itself as an alternative economic partner. Investments into cultural and heritage-linked assets like Hudson’s Bay could be seen as a symbolic extension of this effort to draw Canada further into its orbit of influence, subtly decoupling the country from the gravitational pull of its traditional allies.
From my perspective, as a professional with experience in threat finance, economic subversion and political leveraging, this does not necessarily imply nefarious intent in each case. However, it does demand a conscious awareness of how soft power is exercised through commercial influence, particularly by state-aligned actors. As I continue my research in international business law, I see how investment vehicles, trade deals and brand acquisitions can function as instruments of foreign policy—tools for shaping narratives, building alliances and shifting influence over time.
Canada must neither overreact nor overlook these developments. Open markets and cultural exchange are vital to our prosperity and pluralism. But so too is the responsibility to preserve our sovereignty—not only in the physical sense, but in the cultural and institutional dimensions that shape our national identity.
Strategic investment review processes, cultural asset protections and greater transparency around foreign corporate ownership can help strike this balance. We should be cautious not to allow historically Canadian institutions to become conduits, however unintentionally, for geopolitical leverage.
In a world where power is increasingly exercised through influence rather than force, safeguarding our heritage means understanding who is buying—and why.
Scott McGregor is the managing partner and CEO of Close Hold Intelligence Consulting.
MxM News
Quick Hit:
A shocking new poll reveals that a staggering 71% of likely Democratic voters support imprisoning Elon Musk for his brief service in the Trump administration’s Department of Government Efficiency (DOGE). The survey, conducted by The Heartland Institute and Rasmussen Reports, underscores an alarming shift in progressive politics: jailing political opponents for attempting to rein in bureaucratic waste. As Justin Haskins writes in his May 9 Townhall op-ed, this poll is not just about Musk—it’s about the dangerous normalization of authoritarianism among America’s political left.
Key Details:
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71% of likely Democratic voters support jailing Musk for his role in eliminating government waste via DOGE.
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80% of ideological liberals, across parties, say they would imprison Musk for his public service.
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Nearly 70% of Democrats support banning Musk from ever serving in government again—an unconstitutional measure.
Diving Deeper:
In his recent Townhall column, Justin Haskins warns that Elon Musk’s fall from liberal darling to “Public Enemy No. 1 for the modern left” stems from a single transgression: daring to challenge the D.C. establishment. Haskins opens by recognizing Musk’s past achievements—electric vehicles, space exploration, and defending free speech. But after briefly working in the Trump administration’s Department of Government Efficiency (DOGE)—an initiative aimed at cutting federal waste—Musk became a target of left-wing ire.
According to the Heartland Institute/Rasmussen poll, “Seven in ten likely Democratic voters want to imprison Musk for trying to make government more efficient.” Haskins adds, “This isn’t satire. This is the modern Democratic Party, where liberalism has evolved into authoritarianism dressed in the clothes of compassion and equity.”
The numbers become even more disturbing among self-identified liberals. A staggering 80% of ideological liberals said they’d support jailing Musk for participating in DOGE. Additionally, nearly 70% of Democrats back a proposal to ban him from ever working in government again—a position that clearly violates constitutional protections.
Musk’s unpopularity among Democrats has grown since his acquisition of X (formerly Twitter) and his commitment to restoring banned voices. Once celebrated as a climate champion, Musk is now demonized by the very groups that once hailed his green energy innovations. “He was supposed to walk in lockstep against conservatives at all times,” Haskins notes. “When he chose a different path… he committed a sin that some on the radical left simply cannot forgive.”
More importantly, the poll reflects a dangerous national trend: criminalizing political dissent. Haskins writes, “When nearly three-fourths of Democratic voters support jailing someone for participating in an effort to streamline federal agencies, we’ve crossed a dangerous line.” He continues, “This is the stuff of banana republics, not constitutional republics.”
The column concludes with a chilling reminder that the targeting of Elon Musk is not an isolated incident. “If they’re willing to jail Elon Musk for doing his job, what do you think they’ll do to the rest of us?” Haskins asks. The poll results reveal a left-wing movement increasingly comfortable using state power to punish those who refuse to conform.
Quick Hit:
The LEGO Group is expanding its U.S. footprint with a $366 million investment to build a 2-million-square-foot warehouse in Virginia. The move will create 305 new jobs and deepen the company’s commitment to the United States.
Key Details:
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The new warehouse and distribution center will be built in Prince George County, complementing LEGO’s upcoming factory in neighboring Chesterfield County that’s set to open in 2027.
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Virginia secured the project through a $2.53 million Commonwealth Opportunity Fund grant, with additional support from state programs including the Virginia Jobs Investment Program and the Port of Virginia’s economic development incentives.
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LEGO’s Chief Operations Officer Carsten Rasmussen said the center will “bring greater flexibility” to the company’s North American supply chain and reduce both customer wait times and environmental impact.
Diving
LEGO is expanding in Virginia! This new $366M investment in Prince George County creates 305 new jobs, strengthening our partnership and Virginia’s status as the top state for business. Virginia is where global companies and iconic brands like @LEGO_group can thrive, grow, and… pic.twitter.com/6rzydVIlRZ
— Glenn Youngkin (@GlennYoungkin) May 8, 2025
Deeper:
The LEGO Group will invest $366 million to build a 2 million-square-foot warehouse and distribution center in Prince George County, Virginia, a move expected to create 305 new jobs, according to a Thursday announcement by Governor Glenn Youngkin.
The project marks another milestone in LEGO’s ongoing U.S. expansion, following the 2022 announcement of its Chesterfield County factory currently under construction. The company’s operations in Virginia are projected to create more than 2,000 jobs total when both sites are fully up and running.
“The LEGO Group is not just a household name, it’s a symbol of creativity, innovation, and quality that resonates globally,” said Governor Youngkin. “Three years after choosing Virginia to establish its U.S. manufacturing plant, the LEGO Group’s decision to expand into Prince George County is an exciting new chapter in this partnership.”
LEGO’s global Chief Operations Officer, Carsten Rasmussen, said the regional distribution center “will shorten our supply chain in the region–reducing lead times for our customers as well as our environmental impact.” He praised the continued partnership with the Commonwealth.
State economic officials credited Virginia’s workforce and infrastructure for helping land the deal. “This investment brings high-quality jobs to Prince George County and reflects our broader commitment to building healthy, vibrant communities,” said Secretary of Commerce and Trade Juan Pablo Segura.
Virginia lawmakers representing the area praised the announcement. State Senator Lashrecse Aird said the investment means “new opportunities for families and a stronger foundation for our community.” Delegate Carrie Coyner echoed that sentiment, calling it “a testament to the kind of community we’ve built.”
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