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China

What Attitude Should Marxists Take to Proposals for Chinese Investment in Australia?

Part of a massive oil refinery complex in Kwinana, Western Australia. The refinery is owned by a foreign corporation. Chinese owned? Wrong! The refinery is owned by British-based BP. Latest available figures show that Britain’s total stock of foreign investment in Australia is more than 25 times that from Mainland China.
Part of a massive oil refinery complex in Kwinana, Western Australia. The refinery is owned by a foreign corporation. Chinese owned? Wrong! The refinery is owned by British-based BP. Latest available figures show that Britain’s total stock of foreign investment in Australia is more than 25 times that from Mainland China.

What Attitude Should Marxists Take to Proposals for Chinese Investment in Australia?

Takeovers, mergers and acquisitions of minority stakes are all normal parts of the corporate scene in capitalist Australia. Except, that is, when the companies investing happen to be state-owned enterprises from the Peoples Republic of China – in which case all hell breaks out. Proposals by PRC state firms to invest in Australian companies have caused a furore. Right-wing politicians, media commentators and some sections of the corporate elite have rabidly opposed such moves. As a result some major PRC investment plans have been stymied. Continue reading What Attitude Should Marxists Take to Proposals for Chinese Investment in Australia? →