by Tim Wilson, August 4, 2011
Open foreign investment is good for all. In Australia’s case it makes sense for developing country businesses to invest in an economy capable of delivering stable returns and property rights. For Australia it makes sense because with a large land mass and small population it has always been a capital importer.
That’s why any calls to restrict foreign investment are dangerous and counter productive. But political realities always make foreign investment a touchy issue. Which is why the idea of at least steering, rather than blocking, Chinese investment into Australia’s agriculture sector is welcome.
Unfortunately the idea is receiving a cold reception from the National Party. But hopefully sense will prevail.