Foreign Investment Review Board: It’s economically naive to cut China out of direct investment

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There may be more “like-minded” investors out there for Australia’s resources sector, but will they be as competitive and efficient as China has proven to be?

”, the government saw its Future Made in Australia evangelism going hand-in-hand with a more security-minded approach to managing foreign investment.

Taxpayer dollars will be used to support local projects aimed at bolstering supply chain resilience, while Treasury will administer a foreign investment regime that more closely scrutinises “risky” proposals.read this as “Chinese investment” proposals. The treasurer himself insisted the regime would remain “non-discriminatory” and so did not expect any blowback, such as reduced Chinese investor interest or policy retaliation by Beijing.

Some friendly countries often appear more intent on the ‘on-shoring’ of supply chains rather than ‘friend-shoring’ with Australia. Last year, Australia’s first facility capable of transforming spodumene into battery-grade lithium hydroxide began selling to international customers, including inof these exports is forecast to reach $478 million, and by 2029, Australian supply will jump to 15 per cent of global lithium hydroxide production.

And a more fundamental problem is that “less risky” foreign investors might simply not be up to the Chinese standard.Establishing and sustaining a globally competitive industry demands the world’s best technology.

 

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