Blah blah blah.dbl96 wrote: ↑Mon Nov 09, 2020 1:04 pmRev's comments here are a perfect example of, as I discussed previously, how the emotional can trump the rational in economic decision making. The lack of democracy in China may infuriate Australians, but it is of no logical relevance to a decision about whether to exclude commercial investment from China. The fact that money used to buy some steel and cement comes from undemocratic China does not mean that it will magically destroy Australian democracy. It is just money used to buy steel and cement.
On the other hand, it would completely economically irrational to do as Rev suggests and nullify and forfeit all CCP linked investments. A huge amount of investment in Australia, and specifically in Adelaide, comes from Chinese-backed sources. What would we gain by excluding this investment? Absolutely nothing. Excluding Chinese investment would simply result in more sluggish economic growth rates and increased unemployment for South Australia. How is that desirable in any way?
If we want to prevent our democracy being eroded, we need to focus on strengthening our institutions to prevent corruption generally, not by introducing an irrational ban on all things Chinese.
Your comments are a fine example of ignoring the reality.
The reality is that we aren't dealing with a rational, democratic regime, but a dictatorship hell bent on regional domination and hegemony, who are trying to use economic pressure and debt traps to coerce democratic governmemts into compliance and submission.
It ignores the reality that the CCP regime has security laws which force their citizens, even abroad, to act in their national interest..yes, that means they may act against Australia's interests if the CCP regime demands it.
Look at Chinas behavior over the covid19 investigation that Australia asked for, and was backed by most of the free world. How many of our industries have been hit with tariffs for no reason other then China trying to punish us, and coerce our government into compliance and submission to what the CCP wants? What the hell is wrong with you, why would anyone want to do more business with them, or maintain existing relationships?
So while you cry over an investment that they pulled out of because they weren't happy with scrutiny over their links to the CCP, I say excellent. It goes to show they have something to hide that they don't want anyone looking into. Otherwise they'd stand by their investment with integrity and confidence.
Good riddance. Hopefully more news like this follows, and hopefully we see real and wide ranging investigations into Chinese CCP linked investments, and agreements and so on cancelled.
Btw, China isn't that big of an investor in our country. Out of the 3.8 trillion in foreign investment, only 140 billion comes through Hong Kong. A minuscule amount of that would be in SA. But nice try trying to connect corrupt ccp linked investors to being vital for jobs and economic growth in SA.
Nearly a trillion dollars of investment comes from the USA, 987 billion. 686 from the UK, 348 from Belgium and 241 from Japan.
Almost half therefore comes from our two traditional allies, the UK and USA.
Keep trying to sell Chinese CCP investment as being vital, because we will not only survive without it, but we will also be stronger, safer, and our democratic values and institutions will be free from the corruption and subversion that the CCP breeds.