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Foreign investment and ownership (Read 660 times)

freediver

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Foreign investment and ownership
Apr 10^th, 2008 at 12:02pm

Is this a bad thing and if so, how should it be restricted?

Sinosteel seeks approval for takeover

http://news.smh.com.au/sinosteel-seeks-approval-for-takeover/20080410-2524.html

Chinese state-owned Sinosteel Corporation is still seeking approval from China's regulators for its $1.19 billion takeover bid for Midwest Corporation Ltd.

Sinosteel said on Thursday it expects authorisations to be given unconditionally for the takeover of the Perth-Headquartered miner.

BHP unaware of Chinese bid for a stake

http://news.smh.com.au/bhp-unaware-of-chinese-bid-for-a-stake/20080410-252b.html

BHP Billiton says it is unaware of any move by Chinese interests to acquire a stake in the world's biggest miner.

Responding to a stock exchange query, BHP said the only factor of which it was aware that could be influencing its recent share price rise were announcements on coal price negotiations.

BHP's share price surged in London two nights ago, then in Australia on Wednesday, on reports that Chinese state-owned Chinalco was preparing to take a stake in the miner.

Chinalco hit the headlines in February when the Chinese aluminium giant teamed up with US-based Alcoa Inc to take a nine per cent stake in takeover target Rio Tinto Ltd.

A report in The Australian newspaper said Chinalco was considering taking a stake in BHP Billiton higher than the nine per cent interest it took in Rio Tinto.

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jakethomas

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Re: Foreign investment and ownership
Reply #1 - Apr 14^th, 2008 at 4:49pm

There are legitimate debates for either perspective.

Yes, as a nation we do have a lot of foreign investments, some which may be better invested back home. But, like any good investor knows... "don't put all your eggs in one basket"

Now, im sure the government and people have some degree of faith in our economy, but they ned to be logical. Our economy can't guarantee success in every firld and thus some of our money must be diversified overseas.

This however, leaves a void that must be filed for our economy to continue to thrive. For without investment, home grown or foreign, growth cannot be sustained.

Therefore I do, support to some degree overseas invesment, bound by anti-monopoly rules of course.

Interested in targeted Australian political debate?&&Perhaps try...&&www.myperspective.org.au

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freediver Gold Member Offline www.ozpolitic.com Posts: 47364 At my desk.	Re: Foreign investment and ownership Reply #2 - Apr 14^th, 2008 at 4:51pm Thanks Jake, that's a good way of looking at it. Welcome to OzPolitic!
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