Don't give China control, warns Bush adviser
02 Sep 2010
Source: Sydney Morning Herald
A FORMER economic adviser to the previous US president, George Bush, has warned that Australia stands to lose its economic bargaining chip if it allows China to become a direct investor in domestic mining or agriculture. As China's demand for natural resources grows, so too will its insistence on controlling the global supply chain, said Philippa Malmgren, the president of the Canonbury Group in London and a global consultant with Deutsche Bank.
Minmetals of China last year acquired most of the worldwide assets of OZ Minerals, including the Century zinc and copper mine in Queensland and the Sepon copper and gold mine in Laos. Minmetals has expressed interest in acquiring more Australian mining projects.
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