CAAN takes a look at a report by Peter Jennings on Foreign Investment Laws
DESPITE the huge sell-out of Australia since 1975 through the foreign acquisition laws … it is only now that the Treasurer has taken further steps for reform …
WAS Australia forsaken by the property sector? When not content with building for the Nation it was granted a ruling to sell 100% of ‘new homes’ overseas particularly in China … it did not stop there … because through buying our real estate these foreign buyers could also gain permanent residency!
It would seem together with the international student market a cabal was formed which has enabled the stealth attack on Australia’s intellectual property … it’s been like a walk in the park …
IT is alleged that Scomo when Treasurer in 2016 closed the loophole for the NT government to lease the Port of Darwin to Chinese-owned Landbridge in 2015 …
Yet despite the federal government having responsibility for national security the lease was issued!
CHINA does not allow foreign investment in its strategic assets …
Obviously with numerous reports on China’s espionage … and NOW Xi Jinping has confirmed the CCP’s control over all businesses including ‘private’ businesses …
-all companies and individuals have to co-operate with China’s intelligence establishment
Based on Australia’s experiences so far with China’s cyber and individual spying on our Parliament, political parties, government departments, universities and businesses … why engage further?
AS they acquire our Property (residential, agricultural and commercial) and the Silent Invasion of members of the CCP proceeds …
How can we be sure of preventing such espionage?
WHY go there? The World is a big place …
OBVIOUSLY with no protection for Australia’s National Estate … our Title Deeds perhaps our Biggest Export … is it any wonder that Beijing displays such contempt?
Chinese investment into our universities and research institutions has been large …
WHY was Australia slow to grasp that with Chinese ‘co-operation’ in our research that our intellectual property would benefit the PLA?
HOW will compliance requirements and penalties possibly be sufficient?
NOT much in this for Australia because there is no retrospectivity with the laws once passed! Australia has to live with the repercussions of the loss of a large share of the electricity grid, gas pipelines, and ports now owned by the Chinese!
Peter Jennings has come up with a solution that the government use its constitutional powers on national security grounds to take back control of the Darwin Port; and remunerate Landbridge.
Why doesn’t the Federal Government take the Port back?
Further, that the US, the UK, Canada and other democracies are also big investors in Australia … with China eliminated that could well encourage more involvement from others! Not that we all agree with foreign acquisition …
HASN’T taking China’s money been at the price of Australia’s national security and values too high a price to pay? … And it seems to have been totally unnecessary!
READ MORE from Peter Jennings, ‘China will be surprised how long it took us to act on Foreign Investment Laws’
Xi Jinping has reasserted the Chinese Communist Party’s authority over all Chinese businesses. Picture: Getty Images
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