Is this the Start

[Rob_K]

Originally Posted by Omaroo

It's a massively important water resource that is now under foreign control.

No Chris, all water in Queensland (including the Cubbie Farm water) is controlled by the Queensland Government under the Water Act 2000 and Regulations, and South East Queensland Water (Distribution and Retail Restructuring) Act 2009. I fully agree that the whole idea of using such massive quantities of scarce water on attempting to grow cotton is a wasteful and unsustainable land use, but it's not as if Chinese investment somehow turns the farm into Chinese territory.

As far as I'm aware (correct me if I'm wrong), the only piece of Australia under Chinese control is the Chinese Embassy in Canberra. The farm will remain subject to the same laws as any other farm or piece of Australia, notwithstanding any major project exemptions it might have. Employees will come under the same industrial laws, any exports under the same export review processes, the same taxation laws, planning laws, environmental laws etc etc.

Cheers -

[TrevorW]

The Govt never really cares what the think, because we elect them they can do what they like with impunity and never have to answer for stupid decisions then still come away with a packet of money when they are dismissed from Govt.

As a PS I constantly see the results of stupid decisions where bucket loads of our taxpayer dollars gets wasted and there is no accountability.

I lament as it will never change.

[Omaroo (Chris Malikoff)]

Originally Posted by Rob_K

No Chris, all water in Queensland (including the Cubbie Farm water) is controlled by the Queensland Government under the Water Act 2000 and Regulations, and South East Queensland Water (Distribution and Retail Restructuring) Act 2009. I fully agree that the whole idea of using such massive quantities of scarce water on attempting to grow cotton is a wasteful and unsustainable land use, but it's not as if Chinese investment somehow turns the farm into Chinese territory.

Good to know Rob. Exactly what do the Chinese have planned for it then? I haven't been following the whole story to date, only snippets. It's probably even a silly thing for me to comment given that.

[TrevorW]

"Treasurer Wayne Swan last night insisted the acquisition of Cubbie Group would not impact on water management arrangements, as the company would remain subject to state and Commonwealth regulations."

Yet this farm uses 500 mega litres of water a year

[Rob_K]

Originally Posted by Omaroo

Good to know Rob. Exactly what do the Chinese have planned for it then? I haven't been following the whole story to date, only snippets. It's probably even a silly thing for me to comment given that.

Cheers Chris - I'd suspect they want to make money out of it! Their purchase includes an existing legal and sanctioned water right (no matter how ridiculous we think it is - our fault, not theirs) but that's all. They can't take more (is there more?) and they can't take the water back to China!

I suppose my point is that this is just global business. We invest in other countries, other countries invest in us, for all sorts of reasons. When we invest in other countries, our investments operate under the laws of that land, not ours. Australia probably punches above its weight in foreign investment, particularly in the resources sector. And it's not all good news because developed countries like us often pick soft targets where slack laws or administration allow us to exploit people and commit environmental rapine in pursuit of the holy dollar. Err, off soapbox now...

Cheers -

[AndrewJ]

Gday Rob

Employees will come under the same industrial laws, any exports under the same export review processes, the same taxation laws, planning laws, environmental laws etc etc.

Not so sure here, as it depends on how they set it up.
There was a good discussion on it yesterday on the ABC radio,
( Macca was interviewing someone who was very well versed in
how the FIRB etc works ) but i cant find a podcast yet.
I also see the senate is now asking questions re how it is to operate.
It sounded like they may even be able to run it semi taxfree
with raw product shipped direct offshore.????

Dont know whats really going to happen,
but i think selling off water to grow cotton
is not really going to be in our best interests.
I also doubt any of our govts will have the guts to implement some of the laws, if the new "owners" express displeasure, and push comes to shove.

Andrew

[Rob_K]

Originally Posted by AndrewJ

Gday Rob



Not so sure here, as it depends on how they set it up.
There was a good discussion on it yesterday on the ABC radio,
( Macca was interviewing someone who was very well versed in
how the FIRB etc works ) but i cant find a podcast yet.
I also see the senate is now asking questions re how it is to operate.
It sounded like they may even be able to run it semi taxfree
with raw product shipped direct offshore.????

Dont know whats really going to happen,
but i think selling off water to grow cotton
is not really going to be in our best interests.
I also doubt any of our govts will have the guts to implement some of the laws, if the new "owners" express displeasure, and push comes to shove.

Andrew

Hi Andrew - doesn't matter how they set it up, it's still Australian law. Call me when Chinese sovereignty is declared and then I'll jump in the trenches!

Concessions like you're alluding to are always part of major investments (ie the exemptions I referred to before) and the xenophobic local media never give us the background to be able to understand the complexity of the inevitable backroom deals that go on - you give us this concession and we'll give you that. Remember that China is a major trading partner of Australia and that we have lots of investments going on in China. We might be bent over a barrel at times, but hey that's business.

I'll butt out now - suffice to say I'm not in favour of Cubbie, couldn't care less about foreign ownership of this or that... and no, I don't have great faith in any of our political parties to protect the national interest!

Cheers -

PS: I'd be really angry if 'furriners' started pinching our dark skies!

[Zhou (Mick)]

Originally Posted by Rob_K

What a furphy! They only run garbage like that to encourage xenophobia (and obviously it's working). It's the same stuff they've been peddling forever. I seem to remember the same stuff about Yanks buying half our country when I was a kid.

When I was a kid the demons were the Japanese.

[mikesim (Mike)]

As long as they build the worlds largest telescope there I dont mind. If there are any problems, its a short 33 hour drive for the 2500 US marines soon to be stationed at Darwin to practice their farm reclamation skills .