Really recommend this Marxist analysis on how the US and Canada relate to each other.

[u/ShenzenIO]

https://www.marxists.org/history/erol/ca.secondwave/bu-native-nat-question.htm

[u/ShenzenIO]

From 1977 and from Trotskyists, I believe, so there's some wonkiness from that but most of it still applies today.

Native Canada, unlike the oppressor nation of English Canada and the oppressed nation of Quebec, is not a bourgeois nation of the Second World but a colonized nation of the Third World. The imperialist bourgeoisie of Canada and the United States colludes to exploit the vast and lush resources of Northern Canada – oil, gas, metals, water, forests, and furs – in complete defiance of the will of the native population. The bourgeoisie does not permit secondary industries or petty capitalism to develop there except in a limited degree and when it perceives it as being to its own specific advantage.In fact, the entire economy of the North is under the control of a small number of giant conglomerates who plan the extraction of resources in order to drain the maximum amount of profits back to Southern Canada and the United States. As in the rest of the Third World, facilities such as railroads and highways are constructed to facilitate the transport of resources from the extraction sites to the mother country, and not to stimulate the growth of indigenous industry in the colonized territory. The native population is left in impoverishment and misery – jobless, malnourished, diseased, uneducated, forced to live on welfare, herded into “strategic hamlets” to make way for the imperialists, and stripped of any participation in the decision-making process of local government.

I also recommend this work which has more actual data (again, from the '70s but it still mostly applies in the broad picture). From non-Trotskyist MLs. This one's got more data/numbers.

https://www.marxists.org/history/erol/periodicals/canadian-revolution/19750106.html

Foreign Ownership: A Peculiarly “Canadian Problem?” In most '“nationalist” arguments, foreign ownership is at the center of an analysis of Canada’s internal political economy. Just as the “lack” of foreign direct investment in Third World countries is the proof that Canada is not imperialist, so also, the amount of foreign investment and control of Canadian industry proves that we are “imperialized”. Thus, we become a colony or neo-colony, the object of U.S. Imperialism’s expansionist designs, like so many other “underdeveloped” countries.

What is not grasped here is that “foreign ownership” is not specifically a “Canadian problem”, or a feature unique to Canadian political economy. It is undeniable that the U.S. dominates certain key sectors of the Canadian economy, and exerts considerable influence in Canada’s economic, political, and cultural life. The nationalist viewpoint, however, does not take into account overall changes in the imperialist system since the Second World War, or the fundamental characteristics of imperialism at a particular stage of its development. In fact, foreign ownership (and specifically American ownership) is a “problem” in most advanced capitalist countries. As for back as 1916, Lenin pointed out that imperialism does not simply strive to annex agrarian territories, but also, because of the contradictions between competing circles of financial capitalists, strives to control and annex other large industrial states. This phenomenon should not be interpreted as exclusively a relationship between imperialist countries and the Third World, but one that exists between and among imperialist countries.

https://www.marxists.org/history/erol/periodicals/canadian-revolution/19750206.htm

The following examples, all within the last six months, demonstrate the intensity of concentration currently within the Canadian economy: Dominion Textiles buying out DHJ Industries; the Loblaws, Kelly-Douglas, Westfair merger (controlled by George Weston Ltd.); the takeover of Acres Ltd. by Traders Group Ltd. and its ’resale’ to Canadian Securities Ltd. (a holding company that controls Traders); Standard Broadcasting Corporations takeover of Bushnell Communications, and the attempted takeover of Argus Corporation Ltd., the second largest holding company in Canada, by Power Corporation of Montreal, the largest holding company in Canada. This struggle in itself, which proceeded through most of April 1975, revealed a great deal about conflicts between competing financial capitalist groupings and the degree to which concentration is a driving force even within such already heavily concentrated developments as Argus and Power (separate work on developments between the Argus and Power groupings is being prepared). It is interesting to note in the above examples, that two corporations (Standard Boardcasting and Argus) are controlled by the same circles of finance capitalists.

In looking at the characteristics of monopoly capitalism in Canada, the second feature which Lenin points out, of the creation of a financial capitalist oligarchy, based on the merger of bank and industrial capital (finance capital) is more and more evident. Lenin describes the situation as one where “the banks have developed from modest middlemen enterprises into the monopolists of finance capital. Some 3 to 5 of the foremost capitalist countries have achieved the ’personal link-up’ between industry and bank capital and concentrated in their hands the control of thousands upon thousands of millions which form the greater part of the capital and income of entire countries.” (Imperialism. . . . pg 16.)

In Canada today the power and influence of finance capital, the “net of dependency relationships” which they spread over the country is very clear. Since Bucks analysis of this phenomenon the banks and finance capital in general have taken on an ever more prominent and important role. One need only glance at Appendix 1(A) [not copied here – MIA]to see the incredible growth of concentration of capital evident in the 30 years between 1945-75. This concentration has taken place not only in terms of straight growth of capital but also through mergers, and amalgamations.

. . .

It is indisputable that the Canadian working class suffers at the hands of U.S. Imperialism. The Canadian working class and its organizations must take the lead in exposing the role and nature of the superpowers in the world, through the particular domination of U .S. imperialism in Canada. We must be ever aware of the dangers posed to a revolutionary working class movement in Canada, by the major ally of our own Canadian bourgeoisie.

The working class and its forces must always try to continually increase the contradictions between the Canadian monopoly-capitalists and the U.S., by fighting for Canada to take independent positions in world affairs, from the perspective of allying with Third world positions, to advance the world united front against superpower hegemonism, imperialism and the dangers of world war.

[u/ShenzenIO → u/ShenzenIO]

Further reading:
https://communist-party.ca/chapter-2-capitalism-in-canada/
https://www.marxists.org/history/erol/ca.secondwave/who-owns-canada.pdf
https://www.marxists.org/history/erol/ca.secondwave/rsc-canada-economy.pdf

[u/ShenzenIO → u/[deleted]]

You're welcome. I like finding these thoughts all laid out in writing, especially since American media dominates the Canadian space too. Really hard to find Canada-specific marxist/socialist analysis these days.

[u/ShenzenIO]

Another work I found:

All the parties represented in Parliament supported the policy that was misnamed “Canadian-U.S. Integration” when it was introduced in 1947-48 and have continued to support it consistently since. Outside parliament opposition was by the Communist Party and its supporters alone throughout the first 15 years that it was in effect. In the circumstances United States absorption, at times via giant U.S. monopolies, has proceeded apace. Developments have shown conclusively that the warnings broadcast by the Communist Party alone when the Abbott Plan was introduced were fully correct. The character of the resuldts, economic, political, and cultural, has been exactly as we forecast. But their scale and the rate at which they are extending into every sphere of social life in Canada is far worse than even the Communist Party thought to be possible in such a short time.

From less than 4,000 million dollars at the end of the Second World War, United States investments in Canada had increased to 20,000 million dollars by 1965. They constitute now 80 per cent of all foreign investment in the country. Foreign owners control no more than 60 per cent of the manufacturing industry as a whole. As part of that they control 97 per cent of the automobile industry, 97 per cent of the rubber industry, 78 per cent of the chemical industry, 74 per cent of the natural gas industry, 59 per cent of the mining and smelting industry. A daily paper reported recently that 500 enterprises passed out of Canadian into foreign ownership during the year 1968 and the first nine months of 1969. (27)

The economic base of the Canadian bourgeoisie is not simply dominated by United States-owned monopolies, it is being taken over physically by U.S. state-monopoly capital.

https://www.marxists.org/history/international/comintern/sections/canada/buck-tim/lenin-canada/ch07.htm