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Defence analysts warn U.S. will control key systems on F-35 fighter jets, putting Canada at risk
(ottawacitizen.com)
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The problem is that in the event of a conflict with the US, those jets would be entirely unusable because they'd shut them down. And we'd be billions of dollars down.
It would be better to spend that money elsewhere, even if it's out of date, than to have nothing.
Pretty sure we couldn't buy enough of anything to make a difference against the US in even the long term. Except nukes. Those are the only feasible deterrents we could use.