Posted on 06/04/2020 6:04:34 PM PDT by naturalman1975
Foreign investment laws in Australia will be completely overhauled as part of tough new rules to protect the country's national security.
The federal government's zero-dollar approval threshold will mean all foreign bids for companies from large telecommunication businesses to small defence providers will be vetted by the Foreign Investment Review Board.
Treasurer Josh Frydenberg will also have the power to force a sale or impose conditions on foreign acquisition of Australian assets even after a purchase is made.
Previously the treasury could only block foreign purchases of Australian assets which exceeded a takeover threshold of $1.2billion.
The new laws follow a series of recent controversial takeovers by Chinese-owned companies - including the lease of the Port of Darwin to Chinese Communist Party-linked Landbridge Group in November 2015.
(Excerpt) Read more at dailymail.co.uk ...
I have said the same thing in previous posts. China is simply buying the U.S., one business and one ranch at a time. We are becoming their bread box.
Absolutely.
The Imperial Japs wanted it during WWII, and now the Commie Chinese want everything they can get their hands on...keep them out Australia....!!!
let them spend their money and take their chances. One thing’s for sure; they can’t take it home upon departure.
As for Chinese being furious, they best knock off the childish tantrums and wear big boy pants like the rest of the world. To-date, dog farts are more significant.
Now if you only believed in the right to bear arms uninfringed.
“the power to force a sale”
China might have to sell at a loss, if its is forced. Good on ya.
Australia is going to have to look real hard at all ownership, because the Chinese Intel folks will have layer upon layer of front companies and surrogates for the their high value targets
Loosen your gun laws put in place by previous puke governments while you are at it. Give the Aussies a fighting chance already.
“One thing’s for sure; they can’t take it home upon departure.”
Back in the 1980s, it was the Japanese making the acquisitions including Rockefeller Center.
The saying at that time was, they can’t take it with them.
And No Pooftahs!
If they buy thru 3rd parties and it is found out, a sale will be forced to the highest buyer (a loss for china). No sneaking around the back way.
good news
Too late.
You already let too many of the Chi-com bastards in to your little country there folks.
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