DavoMagic has an important point. Are we an independent nation or are we a colony of the US?
However we should take in mind the fact that Australian investors also invest in US, European and Asian stocks either directly, through their super funds, other managed funds or through special purpose ETF's.
An Australian individual may have shares in some - Australian mining, - Australian oil and gas, - Australian gold mining, and - Australian banking
This gives a spread of sectors but (s)he would be wise to also put money into international infrastructure (eg IFRA), and international manufacturing (eg WDMF), specifically China and south east Asian investments (eg PAXX). US investors are doing the same thing by investing into Australia. A simple case of cross-national investments
The concern for Australia's security is when these US investors have sufficient clout to force decisions on to Australian companies which are not in Australia's interest, such as telling a large Australian mining company to pay a lot of money to buy into a dud mining operation in the US, or telling an Australian oil company to use US contractors instead of Australian contractors. This stymies the opportunity of technological development in Australia.
