Beware trojan horses – The impassioned speech of Anastasia Lin
It is widely acknowledged that China knew about the Coronavirus outbreak in late 2019 but did not report the outbreak until the virus appeared in Taiwan. And while the tectonic economic and personal cost remains to be counted, what we already conclude is that our attitude to China and its business interests on our shores must change.
Consider for a moment, as Newscorp reported here and here, and the Nine Network here that just as the virus was spreading beyond Chinese borders, some staff of Australian-Chinese property development company Greenland, a developer of luxury ultra-high rise blocks, modified their day-to-day tasks and instead were “deployed” to shop for masks, sanitiser, thermometers and gloves to be sent to Wuhan.
Even though this activity is presumably not in their job description, they were motivated, or perhaps activated, to perform a task, reportedly in defiance of FIRB regulations, that would leave Australia with fewer of the vital items Australian doctors and nurses would later require to fight the virus at home.
And the Greenland experience isn’t an isolated one. NewsCorp also reported another residential property developer operating in Australia (but not Chinese Government owned); “Risland Australia” boasted online that “90 tons (sic) of selective medical supplies” were sent “air transport direct from Sydney to Wuhan via corporate jet” in February.
According to the NewCorp article available here, a social media post said Risland “undertake such a campaign to show our faiths to Wuhan people and our ultimate appreciation to those who work days and nights and fight against the virus at the front line.”
The intentions of the staff appear to be caring and Risland not being Chinese-government owned meant it was not restricted from shipping supplies offshore.
Nevertheless, we should be seriously questioning what lengths these and other businesses might be asked to go to in the future in the name of supporting their friends and family back home in China. And what lengths might they go to if those same family and friends at home are threatened by the Chinese state apparatus for their for non-compliance?
If the above reports by News and Nine are examples of foreign demands placed on operators in Australia to conduct activity that puts Australians at risk, we must debate why we are permitting their activities to continue. Are these businesses the overseas tentacles of a regime committed to the destruction of liberal democratic values, universal human rights and the rule of law?
As China grew richer, we in the West assumed that political freedoms and a migration toward capitalism would follow. That pipe dream however has been dashed and replaced by an economic superpower ruled by authoritarism.
Former Miss World Canada and distinguished speaker Anastasia Lin recently addressed the Oxford Union, during a debate, openly supporting a cold war against communist China. She notes that such a cold war is actually supporting the oppressed people of China.
When a foreign power openly hostile to western values, including democracy, and the capitalist system, one that sanctions intellectual property theft and engages in concerted and constant cyber warfare against our own interests, and in defiance of international law, is allowed to continue engaging in business on our shores, indeed is invited to do so, we must take stock of our own priorities.
And should we be willing to trade with a leadership who interns three million Uyghurs since 2017 in ‘re-education’ camps, the biggest interment since the holocaust?
Miss Lin’s speech is a must watch. Importantly Miss Lin distinguishes between communist China and the China of her birth, which she loves. I commend it to you.
You can watch the speech here.
Roger Montgomery is the Founder and Chairman of Montgomery Investment Management. Roger has over three decades of experience in funds management and related activities, including equities analysis, equity and derivatives strategy, trading and stockbroking. Prior to establishing Montgomery, Roger held positions at Ord Minnett Jardine Fleming, BT (Australia) Limited and Merrill Lynch.
This post was contributed by a representative of Montgomery Investment Management Pty Limited (AFSL No. 354564). The principal purpose of this post is to provide factual information and not provide financial product advice. Additionally, the information provided is not intended to provide any recommendation or opinion about any financial product. Any commentary and statements of opinion however may contain general advice only that is prepared without taking into account your personal objectives, financial circumstances or needs. Because of this, before acting on any of the information provided, you should always consider its appropriateness in light of your personal objectives, financial circumstances and needs and should consider seeking independent advice from a financial advisor if necessary before making any decisions. This post specifically excludes personal advice.
Luke Joseph
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Have Chinese companies been divested from the funds?
ROBERT MASSERA
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Dear Roger,
Thank you for you insights and commentary on this most important issue. The business community in Australia (and in other democracies around the world) MUST recognise the existential threat the CCP poses to the values of liberal democracies, human rights, the rule of law and thus long term prosperity. It is now clear that the CCP has never abandoned its founding Stalinist ideology, that it engages in predatory IP theft and economic coercion. Their modus operandi would make Al Capone proud! Accordingly, our business leaders MUST now decide between economic gain in the short-term versus sovereignty, liberty and prosperity in the long-term. I encourage you, as a successful and leading Australian finance entrepreneur, to continue to speak up against this threat, to play a role in advocating for a global democratic free-trading bloc and to invest FUM in a manner that is consistent with this view.
Kind regards,
Robert
andrew hodder
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Roger
Really appreciate your blog with insights to companies, the market and the economy. I would suggest though that you could reference better resources than News Corp and the Murdoch press for balanced political and social commentary.
Andrew
tony.kerr.aus
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I have been saying for a while now that we should engage a system of reciprocity with countries such as China. Australians are prevented by Chinese law from owning investment property in China. I believe foreign nationals and those operating in the interests of foriegn nationals should be subject to the same restrictions in Australia as those Australians face in foreign contries such as China.
Robert Warren
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Well i suppose this is what we all know to be true but the greed of the capitalist society will not be seen until its far too late as miss Lin said the Trojan horse is already placed around the planet all of what miss Lin says is very true her speech should be shared on national television around the world let’s all stand up to China’s communistic ways what country will fall to China after Hong Kong have been silenced and those people of Hong Kong are having their rights ripped from them before our very own eyes miss Lin’s speech is very powerful but where do we go from here?