Will Australia sell out to the Chinese?

News Type: Event — Seeded on Sun Oct 7, 2007 6:42 PM EDT

Article Source: The Sydney Morning Herald

business, china, resources, acquisition, takeover, prc, minerals, bhp-billiton

The Chinese have US$200 billion to invest in a wealth fund, it needs resources and Australia has plenty of it, along with companies such asd BHP Billiton and Rio Tinto that lead the world in resources technology and management expertise. But is it a perfect match or a sellout followed by enslavement?

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6.1

{"commentId":1081733,"authorDomain":"ISPY"}

I SPY

China has a strict non-intetrventionist policy. I doubt we would see another Nugan Hand bank incident in the case of China. At the end of the day I dont see how we have an alternative. It looks like a win win situation for us and China.

{"commentId":1081733,"threadId":"159243","contentId":"1009012","authorDomain":"ISPY"}

3 votes

#1 - Mon Oct 8, 2007 8:03 AM EDT

{"commentId":1081752,"authorDomain":"vanessa-wilson73"}

Vanessa Wilson

is it a perfect match or a sellout followed by enslavement?

I don't think we're going to be enslaved to China more than any other foriegn mining company Boz

{"commentId":1081752,"threadId":"159243","contentId":"1009012","authorDomain":"vanessa-wilson73"}

3 votes

#2 - Mon Oct 8, 2007 8:13 AM EDT

{"commentId":1083406,"authorDomain":"borys"}

Bozzor

This could be a little different: with foreign mining companies it is almost always possible to buy a stake in them and actually control more of your own destiny, but this China fund will be similar to Temasek in Singapore, which looks after the Singapore people. This fund will look after the interests of the Chinese people: fair enough, but I find it hard to stomach the Chinese government controlling Australia's resources with no or minimal chance of Australia controlling a stake in that entity...

{"commentId":1083406,"threadId":"159243","contentId":"1009012","authorDomain":"borys"}

2 votes

#2.1 - Mon Oct 8, 2007 6:05 PM EDT

{"commentId":1084222,"authorDomain":"ISPY"}

I SPY

Well we let ESSO control our Oil and Gas for years, I dont see the difference.

{"commentId":1084222,"threadId":"159243","contentId":"1009012","authorDomain":"ISPY"}

2 votes

#2.2 - Tue Oct 9, 2007 2:44 AM EDT

{"commentId":1084296,"authorDomain":"borys"}

Bozzor

Well, we can buy shares in Esso (or whatever it is called now...)

{"commentId":1084296,"threadId":"159243","contentId":"1009012","authorDomain":"borys"}

2 votes

#2.3 - Tue Oct 9, 2007 4:48 AM EDT

{"canLink":false,"threadId":"159243","isPrivate":false}

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Will Australia sell out to the Chinese?

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