Bananas Joyce wants end to Chinese investment in Australia

[Julia]

Barnaby Joyce is a first class idiot with the political base of a Pauline Hanson.

He's by no means an idiot. And I'd think his political base would be much wider than that which existed for Pauline Hanson.

He is, however, a little carried away with his new found status and needs to pull his head in a bit. I agree with him to a considerable extent on the Chinese investment question in that I'd like to see restricted limits for their investment in Australia.

Tony Abbott issued a mild, tacit rebuke to Mr Joyce today. Mr Abbott himself needs to avoid the same foot in mouth syndrome. Both of them will hopefully take the summer break to come to terms with their new positions and accordingly be a little more restrained in what they blurt out to the media.

Mr Rudd is justified in suggesting they are issuing "policy on the run" at present. It would be a pity to see what popularity they have achieved with the electorate evaporate on the basis of ill judged comments and an over-enthusiasm to rush to a press conference.

 

[drsmith]

Me thinks that Barnaby is still preaching purely from the perspective of the other side of the black stump.

 

[Garpal Gumnut]

Me thinks that Barnaby is still preaching purely from the perspective of the other side of the black stump.

And the people beyond the black stump keep the warmeners in Priuses and city comfort through hard work in agriculture, mining and uranium and oil exploration don't forget.

So city folk should listen up to what Barnaby is saying.

gg

 

[dbcok]

As we know the FIRB is the watchdog for foreign investment,
When the Japanese investment scare was coming from Qld the largest investors ,by far, in Australia were the USA,UK and NZ.
Barnaby Joyce obviously knows Qld politics fairly well and plays on xenophobia and ignorance.
Be ignorant and alarmed !

 

[Garpal Gumnut]

Barnaby is a Queenslander and knows what he is talking about.

The Chinese are very tough negotiaters and a little bit of biff on our part is not going to upset them.

They have good contacts with both sides of politics, particularly Labor in NSW, so don't fret that they will go away.

They need us.

And thats where I'd personally like to keep them. Good on Joyce for speaking up for a position which any ordinary Australian would support (except basket weavers in the Southern cities).

gg

 

[Sean K]

Good on Joyce for speaking up for a position which any ordinary Australian would support

Vote 1 BJ.

 

[drsmith]

Barnaby is a Queenslander and knows what he is talking about.

So was Joh.

 

[kitehigh]

Re: Bananas Joyce wants end to Chinese investment in Australia.

It wasn't so long ago that the cry from Queensland was that the Japanese ownership of Queensland properties posed a threat to Australia.
And before that the coming invasion of Australia from Indonesia.Queenslanders were more aware of the threat than southerners because they were closer to the danger.
Something not in the water up there-no flouride at the time?

The Japanese buying up property is one thing, but the buying up of Australian mining companies by Chinese companies (read Chinese Govt) is a totally different prospect. A prospect which I believe we have to be very careful in how we manage it. Like other have mentioned I don't want to see us sell out for short term gain and than have nothing left for our future generation.

Not sure what the last comment is suppose to mean, yes we don't have fluoride in the water and you know what I don't have a single filling. Maybe you should research the negatives of Fluoride and become enlightened.

 

[Tink]

Me thinks that Barnaby is still preaching purely from the perspective of the other side of the black stump.

So was Joh.

Couldnt agree more

And so it starts -- back to the boondocks

 

[explod]

Barnaby is a Queenslander and knows what he is talking about.

The Chinese are very tough negotiaters and a little bit of biff on our part is not going to upset them.

They have good contacts with both sides of politics, particularly Labor in NSW, so don't fret that they will go away.

They need us.

And thats where I'd personally like to keep them. Good on Joyce for speaking up for a position which any ordinary Australian would support (except basket weavers in the Southern cities).

gg

At least we have a politition with the b..ls to speak out on the precarious financial perils of the money presses.

And dont you worry about us ole aerial ping pongers down south GG, we still eat you bent bananas at $7 a kilo @#%*&XX

 

[rcm617]

Personally I think we should be concerned about selling out resource companies to any overseas countries, especially if they are customers of our resource. Instead of pouring all our money into ever increasing house prices and the junk inside that we think we need, most imported from China, it might be prudent to think of the future. After all beside commodities what else do we produce that the world wants. If our resources are primarily owned by our customers what control of prices do we have?

 

[Julia]

Couldnt agree more

And so it starts -- back to the boondocks

Personally I think we should be concerned about selling out resource companies to any overseas countries, especially if they are customers of our resource. Instead of pouring all our money into ever increasing house prices and the junk inside that we think we need, most imported from China, it might be prudent to think of the future. After all beside commodities what else do we produce that the world wants. If our resources are primarily owned by our customers what control of prices do we have?

So Tink, rcm makes a simple but fairly relevant point, doesn't he/she?

Perhaps you could address the final sentence.

Just to be clear, I do have some concerns about Mr Joyce's undisciplined outbursts, but it's the principle of unlimited Chinese investment in Australia that we're discussing here.

 

[explod]

Just to be clear, I do have some concerns about Mr Joyce's undisciplined outbursts, but it's the principle of unlimited Chinese investment in Australia that we're discussing here.

Discipline to party dogma and policy lines did not exist many years ago and the community was more productive for tangible value. Parliamentarians spoke for the people they represented in the area from where they came.

All this pansy stuff has broken down the voice of and the democracy for the people. Bring on more bent bananas so that we can debate issues only, not cloistered for the more wealthy vested interests.

 

[Garpal Gumnut]

Discipline to party dogma and policy lines did not exist many years ago and the community was more productive for tangible value. Parliamentarians spoke for the people they represented in the area from where they came.

All this pansy stuff has broken down the voice of and the democracy for the people. Bring on more bent bananas so that we can debate issues only, not cloistered for the more wealthy vested interests.

Hear, hear, plod mate.

Well said.

And by the way I eat apples and pears from down south

Thanks for being there, to keep them honest.

gg

 

[Robear]

Barnaby is on the right track here. He may look and sound like a bit of a hayseed but he speaks without spin and obfuscation like many of his peers.

I reckon he makes a lot of sense on this issue.

The Chinese are not in the market to buy up resource companies for the good of us Aussies, thats for sure.

 

[alphaman]

I see it as a fair game. It wasn't too long ago that commodties were, just commodities. There is always a chance that the Chinese will end up overpaying.

The Chinese investment issue can be adequately addressed from an anti-competitive angle. No need to complicate it with xenophobic sentiments.

 

[bellenuit]

I see it as a fair game. It wasn't too long ago that commodties were, just commodities. There is always a chance that the Chinese will end up overpaying.

The Chinese investment issue can be adequately addressed from an anti-competitive angle. No need to complicate it with xenophobic sentiments.

Alphaman. Joyce was talking about Chinese government investment in key Australian industries. He didn't say that investment from Chinese companies in general was unwelcome. There is a huge difference between a government controlled entity and a private entity when it comes to such issues, as has been discussed in some of the posts above. This is not just an issue for Australia, but many other countries have similar concerns about Chinese government investment in their strategic industries.

By suggesting that these concerns are xenophobic is doing exactly what you are saying should be avoided. You are the one who is introducing xenophobic sentiments to a debate that is about foreign state control.

 

[Buddy]

Alphaman. Joyce was talking about Chinese government investment in key Australian industries. He didn't say that investment from Chinese companies in general was unwelcome. There is a huge difference between a government controlled entity and a private entity when it comes to such issues, as has been discussed in some of the posts above. This is not just an issue for Australia, but many other countries have similar concerns about Chinese government investment in their strategic industries.

By suggesting that these concerns are xenophobic is doing exactly what you are saying should be avoided. You are the one who is introducing xenophobic sentiments to a debate that is about foreign state control.

I agree BN. I think some of the posters here are missing the point. BJ is not against foreign investment per se. I think what he is saying is that he is against foreign sovereign wealth funds (ie governments) investing in Australia. Nothing wrong with that and it's not xenophobic. I think he is also worried about sovereign funds controlling the total demand side of the market to their advantage, over ours (the seller). That's what the Chinese have done with the rare earths market. We, the hole diggers and sellers, have every right to protect our turf from those that would manipulate the market to their advantage. No need to get worked up about it, as it is simply all part of the game.

 

[alphaman]

There is a huge difference between a government controlled entity and a private entity when it comes to such issues, as has been discussed in some of the posts above. This is not just an issue for Australia, but many other countries have similar concerns about Chinese government investment in their strategic industries.

Is there really a huge difference, or is the difference enlarged by xenophobic sentiments? I ask because other than some vague uneasiness about the Chinese government, I don't see any real discussion.

As I said, the real market issue can be handled from an anti-competitive angle. Calling for outright ban is dumb, but I don't think he's really that dumb. Most probably just doing what a politician needs to do.

 

[Julia]

Alphaman. Joyce was talking about Chinese government investment in key Australian industries. He didn't say that investment from Chinese companies in general was unwelcome. There is a huge difference between a government controlled entity and a private entity when it comes to such issues, as has been discussed in some of the posts above. This is not just an issue for Australia, but many other countries have similar concerns about Chinese government investment in their strategic industries.

By suggesting that these concerns are xenophobic is doing exactly what you are saying should be avoided. You are the one who is introducing xenophobic sentiments to a debate that is about foreign state control.

Exactly.

Is there really a huge difference, or is the difference enlarged by xenophobic sentiments? I ask because other than some vague uneasiness about the Chinese government, I don't see any real discussion.

As I said, the real market issue can be handled from an anti-competitive angle. Calling for outright ban is dumb, but I don't think he's really that dumb. Most probably just doing what a politician needs to do.

Here is what Mr Joyce said:

Senator Joyce said while he wasn't opposed to Chinese investment in Australia, he had concerns with a Chinese government-run enterprise owning a stake in Rio Tinto.

"If they are both the owner of the minerals in the ground in Australia and the purchaser of the minerals in China, then they'll do what any accountant will tell them to do and that is to get the cheapest price possible," Senator Joyce said.

"And if you try to dispute that, you've turned a corporate issue into a diplomatic one with an emerging superpower."