Buddy, a lot has been said about Chinese investment in Australia. The reality is that we need foreign investment because otherwise these companies will fall over and the resources won't get dug out of the ground. Remember at the end of the day we profit from resources in a number of ways - jobs, profits going to shareholders, taxes and royalties - and we will always get the taxes and royalties no matter who owns the companies.
People appear to object to foreigners buying our resources and too cheap, but we have no problem with the BHP's and RIO's doing the same thing in other countries - those countries are probably saying those bl#*dy aussies. That's globalisation and its better than the alternative which is protectionism, which will sink us all.
Thirty years ago we complained about the Japanese, then the Taiwanese and now its the Chinese, in 10 years time it will be the Indians. Globalisation is here to stay...
FMG Price at posting:
$2.58 Sentiment: LT Buy Disclosure: Held
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