Government must retake Port of Newcastle as 'aggressive' China expands interests
- Published on: 4/28/2021
- Sky News host Chris Kenny says China has plans to use its 50 per cent stake in the Port of Newcastle to expand it to become "the biggest coal exporting port" in the world - a plan which may not have Australia's best interests at heart.
"The Chinese stakeholders have big plans for the port of Newcastle they want expand the port to handle more containers as well as being the biggest coal exporting port in the world - will they be looking at our interests first or Chinas?" he said.
Mr Kenny also spoke with ASPI Executive Director Peter Jennings who said the government will have to "unpick" the foreign investment decisions made in the last decade with China as it has become more "aggressive" and "authoritarian" in its relationship with Australia.
"There's a whole lot of foreign investment decisions that were taken in the 2010's that I think this government and future governments will have to unpick because the bet they made on China becoming more like Singapore, more open, easier to deal with - has turned out to be wrong," he said.
"China has become more authoritarian, more aggressive, more difficult to deal with.
"I think it is going to become untenable for us to say that a significant part of our infrastructure ... can now be in the hands of companies that see their ultimate loyalty as having to rest towards the Chinese Communist Party."