China owns the world - almost

[Platycat]

Give it time and we will become the 3rd world country as we have sold off all our manufacturing etc we find it hard to buy anything made in Australia these days

[thisisnotalovesong]

>>They have offered billions for our mining resource companies and have shares in most other things as well, including some of our power companies.<

Apparently a US company in the oil and gas business in WA has handed a 50 billion dollar contract to China for the plant of a particular project.

Thats 50 billion out of the AU country economy. Its just a matter of time before Aust ends up in the same boat as America minus a few billion litres of gas to China.

Australia has become a 2 bob commodities hooker.

[snickerdoodle]

China doesn't actually own the world quite yet. All they do is produce goods for foreign companies, according to the specifications that they are given. Most of the profits go back to the multinationals. China is actually quite an unstable country with enormous logistic and social problems. If it can overcome its own dogmatic political and social thinking it may well move to the top of the global pecking order. Though, it can also all go bung real quick. India is the same in many ways. In both countries the chasm between rich and poor is widening not closing. Their enormous and largely poor populations are potential time-bombs. America's global positioning appears more threatened than it actually is. We have to remember that the rest of the world is heavily invested in the US and there is that strong co-dependency from which even China isn't immune.

[manfredh]

Gee, anyone asking a question is a leftie. You seem a bit sensitive.

Anyway, it's not just China doing it. Other countries have also been doing it, some for a fair while longer. I still don't see why your comments have only been on China. As you would say, "Why attack China?"

Maybe your thing is that governments should only invest domestically. Not sure why you haven't spoken up and complained about the Australian Future Fund investing overseas yet then...

[tdierikx]

I'm neither "left" nor "right"... call me a "swinger" if you like, OK?

China is a large country with a large population that requires large amounts of resources etc to keep functioning - why should they not avail themselves of goods that are for sale to everyone? I don't see preferential treatment being given to China as a buyer - the price/conditions are the same as for any other country wishing to buy the same "products"...

T.

[Cas98]

Who attacked the US?? A fact was stated and it is an attack??

[jeeves7]

Its nice to see the lefties out for the day.

Why attack the US? Do not the English also invest in foreign assets?
We are not speaking of private investors, as is the case with the US and English buyers, but about governments taking everything they can.
When a foreign power owns things like your power supplies and natural resources, they control you.
If that seems like a good thing to you, then just sit back and do nothing.

[tdierikx]

It worked for the US...

T.

[Cas98]

I wonder if this is China's way of taking over the world? World Domination via assets?

[manfredh]

"China is laying down money hand over fist for anything they can get. "

Why wouldn't they? Anyone with funds looking at long term value tries to buy things that help them and increase in value. Given China's reliance on resources, there's a lot of appeal in buying Australian suppliers where they can. The US did it before, as others have also done.

What would you think? Or is it just because it's China that it's a concern? In which case, why China in particular?

[jeeves7]

China is laying down money hand over fist for anything they can get.
They have offered billions for our mining resource companies and have shares in most other things as well, including some of our power companies.
This is on top of their other assets around the world, including large stakes in many African nations.
Those people who think that the USA controls the world will get a mild shock when they look into the workings of the Chinese economy and see all their assets.

Sorry, no links!