ASX Today, page-44047

@Scarpa

I feel it is going to be very difficult for western aligned countries to break the hold China has. There is no reason why it cannot happen, and it need only be so far as to make it a more level playing field. I don’t expect or feel it is at all fair for any 1 country or market economy to dictate or dominate over anyone else. However, as you rightly point out, China are old hands at this style of economic dominance and manipulative coercion over time.

The main problem IMO is the two methods of market control and influence. China has a large population of 1.4 billion people, with a system of governance that seems from the outside to resemble a ‘hive’ or ‘colony’ where there is 1 central dominating power that maintains strict control over everything and anybody else within the hive or colony, where everything and everybody works towards the success and common good of the hive/colony.

Western markets and businesses on the other hand, are purely based on individual profit and greed more or less, with the ultimate goal being to ‘beat’ everybody else to the prize, and the only reason to obey, or assist any governing body is out of some lawful obligation set down in statutes or some other law or regulation, and even then to the absolute minimum one has to, or the bare minimum one can get away with doing. This is how a free market based economy works. I am all for a free market based economy, and happily partake in it, but unfortunately one of the downsides is a lack of common purpose for everyone to benefit, as this goes against the whole idea of making profit from either mutual participation, or from the misfortune of others.

So, as companies in western nations are so use to being protective and guarded about their profit making ventures, they become stubborn and very hesitant about adopting new ideas that may interfere in their profit, and more so they are less inclined to want to willingly participate in helping each other or their respective countries adapt and change for the better. They will more often than not, take the path of least resistance.

This is where a more stern push by governance, or appropriate guidance in the right direction is needed and warranted, and fast, otherwise we may all be stuck midway through this positive technological change for far too long, being left out in the cold while those more willing to modernise quickly for the good of their people, like China, will be going it alone into the future without us, but worse, at our expense.

@Scarpa, I subscribe to your viewpoint regarding our Government getting directly involved and restricting the ownership of our resources by Chinese entities. I have absolutely no issue with any Australian business or individuals trading with China for mutual benefit. However, it is well documented that Chinese entities own or part own a lot of Australian businesses, infrastructure, land, and water, and this can and will be very problematic when there is tension, suspicion, and distrust, especially given China is known to ‘encourage’ State aligned influence, or even completely State owned businesses bound to the CCP.

We need to do better as a collective in this country so OUR nation’s businesses can thrive. When our businesses thrive, I will thrive as a shareholder too, and that is my goal and my selfish interest here.

GLTAH.