Should countries protect national companies?

[Joelcool7]

Recently during the debt crisis the US Government talked about protecting American buisness , buy American etc...etc.. In Canada in the last few years we have seen most of our big brand companies like HudsonsBay Company and its subsidiaries like Zellers get taken over slowly. Now Zellers is actually selling out to Target who is coming in.

Infact we don't have a single national retailer to compete with Zellers and all of the countries major companies are owned by American's either completely or partially through share holders.

I remember when Hudsons Bay Company was being bought by an American. A motion was attempted in parliament to protect it from take over because of what it meant to Canada. It was Canada's biggest and oldest retail outlet. But the Government decided it should not intervene and the company was bought up by an American.

Then their has been talk of Sony or Nintendo purchases by American companies. But I've heard alot lately that the Japanese Government would intervene and prevent such take overs from occuring. Protecting jobs and corporations in Japan seems to be more important then allowing global competitors take over.

So what do you think should Government's protect their national buisnesses like the US and Japan have done or should the Government stay out of buisness affairs and allow international companies to take over?