Tuesday, June 2, 2009

Rudd selling Australia to the Chinese

Rudd selling Australia to the Chinese

Three state-owned Chinese Communist companies have announced that they will buy stakes in Australia’s storied mining industry totaling $22 billion exceeding China’s entire investment in Australia over the preceding three years.

Australia’s globe-trotting Prime Minister Rudd supports the sales.
China’s hunger for steel consumes half of Australia’s iron ore exports, and its textile factories buy more than half of Australia’s wool. Over 120,000 Chinese students throng Australian schools and universities.

Now China is starting to buy Australian assets, and, though its purchases remain dwarfed by cumulative investments of the Americans and British, they are growing much faster.

And suddenly, Australians are reeling, startled that their new best friend is someone they really do not know very well, much less trust.

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