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Member since May 2011 · 2485 posts · Location: Brisbane
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Subject: China: Australia's Biggest Lender
From The Courier Mail
CHINA is secretly helping to bankroll Kevin Rudd's economic rescue plan as concerns grow over the relationship between the Communist superpower and the Labor Government.

The Courier-Mail can confirm that China is a significant investor in Australian government bonds -- used by Canberra to fund billions of dollars in emergency spending.

Market insiders believe China is buying 15 to 20 per cent of the $2 billion in Treasury securities being issued every week.

This would make China the single biggest lender to Australia, although details of who owns the bonds are cloaked in secrecy.

It seems a bit vague, perhaps.  Consider the language: "significant", "insiders believe", "details ... cloaked in secrecy".  The article goes on to say "the Opposition has raised concerns Australia could end up politically "handcuffed" to China as a result" as if China's eventual $200 billion loan to Australia, at a time we need it most, is going to guarantee a better trade between the two countries.  Well, yes, that's how it works.  You help me now, I help you later.  China's loaned a trillion to the US, and I'll be they're hoping for similar benefits when the US economy returns to some semblence of strength.

Politics in Australia annoy the shit out of me.  It doesn't matter who's in power or what they say or do, 'the Opposition' will decry every move and curse and spit, without ever explicitly offering a better idea.  There's no way they could, 'cause anything THEY say or do will be decried, with the same cursing and spitting, by the other party. 

I dismiss everything the out-of-power party says as a matter of course, and the in-power party's doing what politicians do the world over: take care of their own.  Who that is depends on the timing - might be business, might be fellow politicians, and once in a while, it might be the people.

...Now I'm ranting.

Anyway, China might be buying lots of Australian bonds.  Now you know.
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