The opinions expressed in this editorial are those of the author and do not necessarily reflect those of Decima Reports.  One of the advantages of having a commentary section in this newsletter is the ability to gain other insights into vital issues. Chris Taylor has done us all a favour with his Newsmakers column in this edition. In all the discussion of foreign ownership, little attention has been paid to the implications of Canadian telcos falling into the hands of American firms and ultimately under the provisions of the Trading With The Enemy Act. Originally passed during World War I, the legislation has degenerated into a tool to attempt to bludgeon nations that disagree with U.S. foreign policy. For decades, internationally-based subsidiaries of American conglomerates have been subject to the restrictions of this Cold War anachronism. The political power of the Cuban community in Florida, a state whose electoral votes George W. Bush allegedly won, ensures that the bill and its subsequent amendments will remain in place for some time to come. Let us dabble in hypotheticals for a moment. A Canadian CLEC is bought out by an American telco; a Canadian ILEC is taken over by a European company. The CLEC cannot conduct business between a Toronto customer and someone in Havana. Meanwhile, the ILEC is making a killing providing service in Pinar del Rio. The Canadian government will have to find ways to protect Canadian sovereignty while opening up capital markets to outside funds. The large telcos and cablecos that have been urging a liberalized investment policy must be vigilant in demanding full access to the international market. The unions and small telecoms that have urged caution should be just as concerned about national autonomy. In many ways, this is reminiscent of the debate over competition more than a decade ago. The people who argued against breaking up the monopoly telephony system have been the best advocates of checks and balances under a competitive regime. Foreign ownership is still a laudable Canadian public policy objective. We just have to ensure we don't forfeit our foreign policy as a result.