how good is he wrote: ↑
Sat Apr 18, 2020 4:23 pm
China already own 40% of Virgin Australia and if you include Singapore (Airlines) it’s 60% then add Etihad it’s 81% then add Branson/Virgin UK it’s 91% .. so its majority overseas owned as it is.
See https://www.forbes.com/sites/willhorton ... 68f9ce3ffc
So if the Australian Govt bail them out they are actually helping majority overseas companies/countries. Further Virgin Australia had I think $5 billion in debt before the Coronavirus with big past losses and some said it was almost insolvent anyway.
It's not about not allowing or having foreign ownership or investment. It's about allowing and having the right foreign ownership.
China is not a friend to Australia. It is not an allied country. Their values and principles on pretty much everything are the opposite of ours.
They are openly hostile towards us, they threatened to shoot down our planes and sink our ships in international waters in the south china sea, the ccp military hacks our government departments and agencies, conducts espionage and spying on us, and it's at the point where people of Chinese descent don't feel safe in Australia from the CCP's tentacles.
By trading with them and allowing them to gain financially from investments in Australia, we are helping them build up their military which is being pointed at us and used to threaten our country.
By allowing them to gain such a large foothold in many of our industries, we are by default helping the communist regime to deny people in China their basic human rights and abuse various minorities.
We cant go around removing other dictators in Middle Eastern countries, sighting human rights violations and such as the reasons, while turning a blind eye the massive human rights violations going on in China. That's why we need to cut our trade and dependence on China ASAP. The USA is doing it, now Japan is doing it. Two of our major allies. Why aren't we?
By continuing to trade with them so heavily, and being so reliant on their manufacturing (while ours has been decimated), we are in a compromised position. And therefore the government (if it ever grows a real set of balls) can't do anything to hold China accountable, and China knows it. Anything the government does say is merely lip service, because there is no backbone to those words.
As for Virgin, yeh they're in big debt. I don't think the company is even valued at anywhere close to a billion dollars at the moment let alone before the covid crisis.
And they want a billion dollar bail out from the government.
If the government is to bail them out, I think that should involve taking the share the Chinese own (not giving them the money, just boot them out already).