The Asianization of Australia

Scott Morrison finally wakes up and does something about it.

A proposed purchase of Lion Drinks and Dairy by a Chinese company was knocked back in 2020. (ABC Rural: Jon Daly). Every purchase application from foreign investors will now be scrutinized, regardless of value. In March, the Morrison Government lowered to zero the dollar value of every foreign investment bid for an Australian asset that must be screened by the Foreign Investment Review Board (FIRB). The decision was taken in response to concerns about the fire-sale of Australian businesses stricken by the coronavirus pandemic, but industry sources say the measure is being used to target Chinese buyers.