Australia Worried China Buying Up Resources

Discussion in 'Indo Pacific & East Asia' started by Ray, Mar 5, 2011.

  1. Ray

    Ray The Chairman Defence Professionals Moderator

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    There were some spat over Rio Tinto earlier.

    While foreign investments are required by any country including Australia, yet Australia has been chary over the growing influence of China in seas and territory south of China.

    As a part of ANZUS, Australia has to be sensitive to US concerns.

    Therefore, it is not unusual that while publicly not indicating discrimination, yet Australia internally are wary over the Chinese acquisitions within Australia.

    The Chinese have been buying/ investing in raw materials the world over in a hell fired hurry so that it can use it to close the gap with the US in manufacturing and in military hardware.
     
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  3. Yusuf

    Yusuf GUARDIAN Administrator

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    They better be wary of the Chinese. That they have let in so much of it already itself is surprising considering the west is known to be resource suckers than givers.
     
  4. Daredevil

    Daredevil On Vacation! Administrator

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    What else Australia have to sell?. It is a country living out of selling vast natural resources it has. It has no other choice.
     
  5. Yusuf

    Yusuf GUARDIAN Administrator

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    there is a difference between selling mines and selling ores.
     
  6. sandeepdg

    sandeepdg Senior Member Senior Member

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    So, they are scared now. This should have dawned on them long back, they have already given so much to the Chinese.
     
  7. sandeepdg

    sandeepdg Senior Member Senior Member

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    Actually Sir, its more to do with their own requirements, since they need these resources to sustain their industrialization and for their own energy requirements, since they are short of mineral resources.
     
  8. debasree

    debasree Regular Member

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    If i m not wrong, a indian & a chineese company fought a bitter battle 2 aquire a mine in australia then the current australian govt vote in favour of ihe later one,so basically my question is why r u weeping now?
     
  9. LETHALFORCE

    LETHALFORCE Moderator Moderator

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    They are still selling uranium to the Chinese and not to India so they cannot be that worried.
     
  10. kickok1975

    kickok1975 Stars and Ambassadors Stars and Ambassadors

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    In a not appropriate example, but Australia is acting like prostitute who love earn money by entertain her body and now is complaining she was raped too much.
     
    Last edited: Mar 5, 2011
  11. no smoking

    no smoking Senior Member Senior Member

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    As my understanding, business is business. No matter how much you don't like it, sometimes you have to kiss your biggiest customer's ass. I have no doubt, if india can be the no.1 buyer of austrolian sales, next the vote would be different.
     
  12. no smoking

    no smoking Senior Member Senior Member

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    As an australian citizan, our main industry is-MINING! And my countrymen refuse most of industries in Oz. So, there is one thing for sure, we don't need those resources.
     
  13. Ray

    Ray The Chairman Defence Professionals Moderator

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    One may like it or not, notwithstanding the non White population that has immigrated to Australia or second generation of such immigrant, Australian mindset is White.

    Being isolated (in a manner of speaking) from the White world, to feel 'secure' they have a military alliance with the West ANZUS and are more aligned to the US than to the UK.

    China is no friend of the US.

    Hence, it is surprising that they are hurting US sensibilities by selling mineral ores/ buying s Australian mines so that China can overshadow the US and West's manufacturing industry as also obtain minerals that will assist the Chinese domestic military industry.

    Strategic interests normally overrules economic and business interests.
     
  14. Ray

    Ray The Chairman Defence Professionals Moderator

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    42 comments

    Batman's Village Common on the skids...I am absolutely heart broken with memories Tim...memories like the time I inquired of a Caulfield bookie where the Brisbane Interstate Ring was...his response...we don't bet on brumbies here Son... your announcement breaks my heart Tim.
    Bob Lansdowne | A to Zee - March 02, 2010, 6:46AM

    I knew this coming , "Coal , Iron Ore and vocational Students" ..........knowledge economy ..yeh right!!!! (sounds a bit like Tui beer), high time Australia took some tuition about IT and next wave of internet tech from India.
    Lalu | Bihar, India - March 02, 2010, 7:03AM

    Spot on.

    Once we have sold all our capital (as Tim so rightly puts it) we will have driven our skills in creative and sustainable industries down to rock bottom. All we well have are a lot of big holes and environmental problems.

    But given the mining industry is the nearest thing to a free lunch we will get, I can't things changing any time soon.
    Mycelius | Brisbane - March 02, 2010, 6:59AM

    Not since Nugget Coombs have Australian central bankers had any understanding of the real world, as opposed to their rarefied financial world. They have left far behind the Keynesian real world to dabble in a world where money has become a commodity and economies in the West have decided that it makes sense to eliminate real industries, with their dirt and difficulties, and concentrate on making money out of--money, and of ripping out our capital assets, selling them overseas, all the while believing that the country is profiting.

    Of course what is happening is that we are creating nothing of value in the finance industry except huge bonuses and ultimately un-repayable debt and in the mining industry we are stripping our national balance sheet of assets, selling them off and transferring the sales revenue to the profit and loss statement. Its parallel in household terms would be selling off the furniture then setting of the costs of selling the furniture against the sales revenue and saying we made a profit, without regard for the fact that our Blance Sheet equity has declined by the same amount. The companies doing it certainly have made a profit, but it is arguable that the Australian citizenry have suffered a huge and continuing loss.

    They have no comprehension that the productive industries destroyed by their financial manipulations were the ones actually creating real economic value and not just selling off the assets as they wound Australia Inc down.
    Lesm | Balmain - March 02, 2010, 7:43AM

    Spot on.
    LP | Doncaster - March 02, 2010, 7:56AM

    Ditto to Lesm.The finance industry particularly those who refer to themselves as fincancial "engineers" (as apposed to real engineers who actually produce something tangible and useful) are the epitome of a parasitic sector of our economy. They are a service sector who although, do have an important role in keeping the economy going,at the end of the day, they simply shuffle paper around and live of the efforts of others (those that actually manufacture something). The problem in the global economy is that these parasites have become a law unto themselves and with the help of greedy politicians and weak governments, have elevated their positions to become, as they say "masters of the universe", although in reality, they are masters of deception and manipulation.
    andrew | werribee - March 02, 2010, 8:27AM

    Demand for mineral resources has pushed the Australian Dollar high, and as a result, left our other industries less competitive. If Colebatch suggests the Australian economy needs more diverse industries, what way can this be achieved other than diverting resources away from our most viable export industry?
    Our manufacturing, farming and tourism industries will suffer during our mining boom years. During these years an equilibrium is established which is skewed in favour of mineral export industries. When mining demand declines, equilibrium diverts resources back into the comparatively more viable industries(manufacturing, farming and tourism etc). What Colebatch suggests is an interference in the natural market forces, which will always results in a less than efficient allocation of resources and less than optimal growth. We don't need uncompetitive and flabby industries holding us back.
    Curtin | Liverpool - March 02, 2010, 8:40AM

    3 manufacturing facilites (factory's) so far in Sydney this year already have announced they will be closing.
    So what does the future look like ? Its not improbable that 90% of Australia's population are living in Queensland and WA digging stuff out of the ground for the Chinese as there will be no factorys or any work elsewhere in Australia.
    By then the Chinese will probably own these mines as we tend to sell everything and eventually Australia is left with a giant empty quarry and no future.
    vae | Syd - March 02, 2010, 8:59AM

    Spot on.

    At the end of this resource run, all the wealth generated will squandered. China has a plan for the next 20 years and is executing it.

    We, on the other hand, don't really have a plan other than more of the same. We don't have leaders that believe Australia can lead the world in anything other than selling the continent one truckload at a time.

    When Rudd looks back 20 years from now and realizes he should have invested in education and industries that would be relevant to a post resource economy, he can always apologize. He's good at that at least.
    Ya Ya Ya - March 02, 2010, 9:05AM

    Curtin,

    You are missing just one small element in that theoretical analysis and that is THE REAL WORLD. By the time mining demand declines the other industries to which resources will be "diverted" no longer exist.

    "natural" market forces are of course no such thing. There is nothing "natural" about the market. It is a human construct. It does not exist in nature. The market's concept of "efficient allocation of resources" has led to a world economy that has produced massive oversupply of many consumer products, as is demonstrated by vast stockpiles around the world of motor vehicles, computers, air-travel, consumer electronics and many other goods and services. It has also produced a western world that, but for the intervention of governments, would now be in a depression of the dimensions of 1929.

    Apart from that your scenario is very plausible!
    Lesm | Balmain - March 02, 2010, 9:46AM

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    The above is what is the real voice of Australia.
     
  15. no smoking

    no smoking Senior Member Senior Member

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    No, Strategic interests was normally overruled by economic and business interests TODAY.
    Kevin Rudd was overthrown by his own party, because people are fuerious about his new tax policy to mining industry.
    The thing is australia can worry about china purchase, but this mine trading cannot be stopped without risking a recession. The problem is no politician would like to answer those unemployed workers.
     
  16. Ray

    Ray The Chairman Defence Professionals Moderator

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    That is a new one:

    No, Strategic interests was normally overruled by economic and business interests TODAY.

    So, why not open up the defence secrets for all to see?

    Why have strategic reserves and hoard it, when opening up means money?

    So, the Australian press is wrong and your claim is right.

    Here is what the Australian Press has to say. Compare it with your opinion.

    This article shows that notwithstanding how Australia's economy is dependant on China, Australia still does not trust China.

    That Australia is still operating on a White mindset and dependant on the US for strategic survival.

    Rudd got a drubbing because he was appearing to be 'selling' Australia to China.

    Strategic consideration cannot be overruled by Business and lure for the filthy lucre!

    Mining will continue, but with Australian safeguards and not be a sellout. Strategy demands that.
     
  17. debasree

    debasree Regular Member

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    first learn to spell australia,then talk about business.u chineese **** lover
     
  18. sandeepdg

    sandeepdg Senior Member Senior Member

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    I suggest you apply some common sense, and then respond. I was referring to the Chinese, and my reply was to our fellow member Ray. I hope your government doesn't sell out all your resources in the spirit of business, and then keeps running all over Africa looking for the same to meet your domestic requirements. Since, the Chinese are already sucking up Africa for all its worth.
     
  19. no smoking

    no smoking Senior Member Senior Member

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    Well, business is business. As long as Chinese give highest price in the market, no one can refuse it. Remember: we don't have steel industry to consume these resources. These resources are only for export. So if india can offer a better price, we would love to negotiate with you. If you don't have that kind of money, please step aside.
     
  20. no smoking

    no smoking Senior Member Senior Member

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    We are talking about exporting resources here not military industry. Please keep that in mind: our economy is relying on resource exportation. By the way, we don't have much military industry. We rely upon US for tech and key parts. So we don't have lot say on that.

    Well, it is not who is right or wrong, it is about money and opinion.



    Of course Australia doesn't trust China! So what? Either does US. But it is still No.1 trader partner of China!
    Regarding Kevin Rudd, he didn't sell anything to China except some lip work. The only thing hurts him is his new tax policy, which will impose extra tax on mining industry. If you check last federal election result, you may find labor lost their seats in the mining-concentrate areas where used to be their strong point.
     
  21. Ray

    Ray The Chairman Defence Professionals Moderator

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    Percy Bysshe Shelley in his Ode to the West Wind had written - If winter comes, can spring be far behind?

    Therefore, to believe that economy and strategic requirement are not interdependent is like having a car without wheels!!

    I am surprised that you claim to be an Australian but you know more of China than Australia.

    This may interest you:



    It is simple. It is not money. It is about SURVIVAL. What is money, if survival is not guaranteed?





    Trading partner No #1.

    But if everything is Chinese owned or Chinese exploited, then where is Australia? It would have mortgaged itself to China!!

    Australia is a country and its overall opinion in the form of votes matter and not what is the result in one segment of the country. This is called Democracy and it takes time to understand its mechanics!

    Rudd did not do lip service for China. he kowtowed as per the Australian press. China should have the goodness to recognise that. Australians have and so they showed him the door!
     

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