in like a needle out like a plough

Good work by labour's David Parker on highlighting the plans of the Chinese company wanting to buy Crafar farms. Thank the gods for the Official Information Act and those who know how to use it to get this information out into the open.

Stuff

Shanghai Pengxin's aspirations to branch beyond the $200 million-plus farm purchase into real estate, infrastructure development and mining in New Zealand are included in its application to the Overseas Investment Office, released to BusinessDay under the Official Information Act.

In the application the company said it regarded the proposed purchase as its "initial" investment in New Zealand.

"[Shanghai Pengxin] will actively seek other opportunities to invest in New Zealand in agribusiness, real estate development, mining and infrastructure, utilising its expertise in these areas gained in China and elsewhere in the world.

There is a saying - In like a needle out like a plough - and this is exactly what these bridgehead 'investments' are. As Green Party co-leader Russel Norman says

"We'd be idiots if we let the Chinese companies buy up all this stuff. But Labour and National have shown they are capable of it in the past so I wouldn't be surprised if they let them do it again."

Reports have said that the Chinese Investment Corporation may invest up to 6 Billion or 1.5% of their fund into this country's assets. That compares with 2% that they have supposedly set aside for Australia. Jeepers if true that will have society changing consequences for this country. We know that the government wants to sell our assets and they are going to try really hard to. To tell you the truth I don't care who stops them as long as someone does. The Mana Party will be strongly opposed, as will the Greens. Winston will rally against it and Labour will have a go, as Parker has here. It may be asking too much for Labour to lead this as they oppose Hone and Mana even more than the maori party, and as Russ mentioned their track record is not good. 

People power is the answer - it works and puts real fear in our opponents hearts.