There are times when AUSBUY supporters feel like whingers or nay sayers when we talk about foreign takeovers and the long term implications for Australia. We do not feel good that our warnings are being vindicated. It was not rocket science to know that key global food commodities are enticing to buy and control. The front page of the Australian 6/7/11 clearly outlines the loss of our sugar industry, and if a worker thinks he will be working for Australia or that his job is secure he may need to think again.
It is as if the Emperors New Clothes is being played out and the insights and clear thinking are outside the power palaces. Australians would like the opportunity to invest in our own country, and not see our superannuation assets at risk in foreign countries. We talk about always relying on foreign investment, but total control of our key wealth creating assets is not going to secure our future and shows disrespect for the generations of Australians who have worked, built and reinvested here in our businesses and farms.
We have been naïve. There are many examples emerging now of how we have been complicit as a country in getting ourselves in this mess. We will pay long term unless we address the issue of key strategic industries and give priority to our own.
We call productivity how many sales we make of imported goods and foods, or pass the parcel moving money around, not how many real skilled jobs and reinvestment we have across our business and farming communities.
There are many examples where we have lost control. Ownership of brands and production assets gives control to foreign companies whether commodities or manufactured goods. The consequences of past foreign takeovers are evident. The consequences for our farmers who are already competing against cheap imports will be felt long and hard.
We are running out of time as our national public and private debt rises and we sell our wealth creating assets. We have the people, we have the skills, all we need is the will.
Lynne Wilkinson, CEO
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