Hats off to the Indian government for standing up to China.
In comments aimed squarely at the Chinese, this week India said that it will BLOCK any foreign company from buying up Indian infrastructure if Indian firms aren’t allowed to go to that company’s country of origin and do the same.
Despite hundreds of billions in takeovers of power grids, ports and pipelines around the world, China does not currently allow foreign companies to invest in its own energy infrastructure, citing national security concerns.
Speaking to reporters, India’s energy minister said: “There should be reciprocity. Is India [such] a punching bag that if you want, you come, invest and earn, but Indian companies cannot go and earn in your country? We believe in reciprocity and it is also a display of our strength.”
This is exactly the right attitude, so why won’t our government take a leaf out India’s book?
Just this month, our country waved through a Chinese bid to buy up a massive chunk of Newcastle Port, the world’s biggest coal export terminal.
The goods news is that if you want it stopped, it’s not too late to act.
Rio Tinto, the company that’s trying to sell off their stake in Newcastle, now has put this deal to their shareholders, who can still vote it down.
The biggest Rio shareholders are Australian pension funds, who are owned by ALL of us and who have to represent the views of their members.
So if you want to stop the sell-off of yet another vital Aussie asset, click here to send your pension fund an automated email, telling them why you want them to vote against.