Chinese investment in Australia has fallen to its lowest level in a decade as political tension rises between the two major trading partners, but Labor says superannuation funds could take the place of foreign investors.
"Foreign investment will continue to have a role, but if we want to improve self-reliance then we have to maintain and improve private saving," Mr Jones said. "During this crisis super has provided emergency relief to individuals and stability in capital markets that can only be assured by large, long term investors with a key stake in the national interest."
"While deal activity will still continue because of the genuine complementarity between both nations and the large number of Chinese companies now established in Australia, we don’t expect to see a continuation of large-scale investment by new Chinese entrants in the short-to-medium term," Mr Ferguson said.
"However, Australia still recorded just below half the US$5 billion of Chinese investment received by the United States in 2019, and far more than the US$1 billion received by Canada," he said.
JennieDuke It is hard for Australia’s Government to work with the CCP Mafia so we had better grow new professional business partners who we can better trust to be more truthful in their dealings .China
JennieDuke Good, the less reliant Australia is on the bullying dictatorship of the Chinese Communist Party, the better. Australia should seek more reliable trade and investment partners among democratic nations.
JennieDuke Yayyyyy
JennieDuke Hope you guys can reflect on ur attitude toward China, we could have been friends
JennieDuke The price of racism. LNP greatest managers of racial economics.
JennieDuke Oh well....shit happens!
JennieDuke This is not a bad thing. You see how much coercion, threats, bullying, infiltration,... the CCP has done thus far. A nations security and sovereignty are paramount as once they are gifted away, they will not come back.
JennieDuke So saying that China owns australia is not correct. Look up who are the biggest investors in AUS. China is at the bottom of the list while constantly in news. Some people probably don't know the difference between biggest trading partner and biggest investor lol
JennieDuke Finding investors other than China is not only more ethical but also much safer in the long run. China is looking to get a financial stranglehold in our region. We must resist now or become their economic slaves.
JennieDuke Don’t fear. ScoMo and LiberalAus are planning “Quarantine bridges” to fly wealthy skilled migrants in to take Australian jobs, buy up our houses and clog up our congested roads. Not sure what the 7 million unemployed AUSTRALIANS will do.
JennieDuke I would like to say - good, but know they are important to our trade and economy. We will just have to rise to their threats and rebalance our reliance on China for exports.
JennieDuke
JennieDuke My mother allowed my sister's husband to live with us for eight years, and he was a parasitic bully. I can spot them a mile off now.
JennieDuke I honestly don't think our government is anywhere near competent enough to address a problem like this. They're good at distributing taxpayer dollars to their mates, they have a track record there. But what else?
JennieDuke Good riddance, the UK is about to leave the EU and they will be looking for trading partners, things are about to change dramatically worldwide, countries don't want to trade with the US, they are a mess & untrustworthy with Trump at the helm. China is the same, reputations torn.
JennieDuke Good, they cannot be trusted, by they I mean CCP
JennieDuke
JennieDuke Picking a fight with your major trading partner at any time is not good for the economy - but doing so right now. The LNP like to kid themselves as good economic managers when they are usually just better at being racist. BlackLivesMatter
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