An ABC investigation has revealed that foreign interests are buying up large tracts of Australian farming land. The inquiries by the News Online Investigation team, Background Briefing and PM found that countries like China, Japan, South Korea, Saudi Arabia and Qatar were eyeing off arable land around the world to secure the food for their increasing demands. Struggling Australian farmers are also turning to overseas buyers to offload their properties. The trend has alarmed many in Australia. And there are fears that Australia may have trouble coping with future food and water demands if foreign interests snap up too many of the nation’s agricultural resources.
Farmer Jim Hersey: Put yourself in our position, where we’re all going to lose it if it stays like it is and we’ll all be down the chute. So would we be happier to let foreign ownership come in and buy us and at least finish up with something to give our families, you know? Or we just go down the chute and then they come in and just take it over anyway. Ausbuy (Australian-owned companies) spokesperson Lynne Wilkinson: You see, when foreign countries take over our assets, or foreign companies take over, they buy our wealth creating assets, they buy cash flow, and they’re buying our export markets. It’s Australians who have built these assets and that’s what we object to.
Australian Agriculture spokesperson David Farley: I think the only thing we have to fear is that if we lose the proper governance of that land or those assets, if we lose productivity from those assets, or if they’re no longer contributing to our country as far as economic and social good and well-being is concerned. ABC PM, 26 July 2010, <http://www.abc.net.au/pm/ content/2010/s2964647.htm>
The problem Menta is cashed up buyers from China are not going to sell if the price turns down; they are here for the long term intent on "land Banking" "money laundering" and used as Family Anchors for "Naked Officials" sitting in "State Owned Enterprises" potentially hiding misappropriated equity. The demographic in Australia is rapidly changing for the worse. Issues of housing affordability for young "Australian" families, national food security and loss of arable land, strategic military security, water shortage/depletion and loss of water licences to Foreign Interests. There is no comparison to the !980's Japan with 95 million pop. and 2014 China with 1.45 billion...chalk and cheese...this is a big macro issue at play. At the petition there are 32,500 signatures "Toughen Foreign Investment Regulations" @Change.Org....The Petition is now a matter of Parliamentary Record with the House Standing Committee on economics....Best regards
