Chinese wealth flowing into Australia

[equitymate]

Many of the chinese investors made their money from being benefactors of government assets (mines etc) where as some were factory owners who through the opening of trade in china over the last 2 decades or so gave massive opportunities to these people to develop or produce products anything from clothing, building materials etc..

This kind of goes to my point about an unfair advantage, we all cant get rich off slave Labor ignoring safety costs etc, but yet we now have to compete for housing stock with those that can make a quid doing so.

You cant have a fair go society that comes at a cost and have others reap the benifits of the stability, safety and desirabilty that goes along with such a society only arriving there by means that are a complete antithesis for which our society is built.
And then competing against locals who do have to foot that cost for shelter.

 

[Melbournian]

This is kind of goes to my point about an unfair advantage, we all cant get rich off slave Labor ignoring safety costs etc, but yet we now have to compete for housing stock with those that can make a quid doing so.

You cant have a fair go society that comes at a cost and have others reap the benifits of the stability, safety and desirabilty that goes along with such a society only arriving there by means that are a complete antithesis for which our society is built.
And then competing against locals who do have to foot that cost for shelter.

Don't disagree with you. it is an unfair advantage to the locals, which is why places like box hill, glen Waverley, Doncaster, Doncaster east, Balwyn are getting more and more expensive for the average wage earner.

these are the realities of the world unfortunately , as much as anyone would disagree with it - can anything be done abt it? is the real question.

 

[jerrybee]

these are the realities of the world unfortunately , as much as anyone would disagree with it - can anything be done abt it? is the real question.

Right now the chinese government are chasing down officials who are smuggling money out of the country. I would say work with them - if any applicants show up on their blacklist too, then that should raise a red flag.

 

[punterncollect]

could someone tell me how we screen the good money from the corrupt money?

 

[Corey Batt]

could someone tell me how we screen the good money from the corrupt money?

I would hazard a guess that they aren't checking. In any meaningful sense at least.

 

[Melbournian]

Right now the chinese government are chasing down officials who are smuggling money out of the country. I would say work with them - if any applicants show up on their blacklist too, then that should raise a red flag.

they only catch the odd few just to show they are doing something. just like in any part of asia - money talks

honestly say for e.g. you have a million dollars and u accidentally had some party drugs which you left in your pants and got caught in Indonesia, you could buy your way out. I know people can pay their way out. if you wanted to and had cash and connections, you could even bypass immigration at the Indonesian airport and get a porter to take you out right from the aircraft. I have friends who do it all the time as they are too lazy to wait in line to get out with all the stamping of passport etc.

 

[Corey Batt]

they only catch the odd few just to show they are doing something. just like in any part of asia - money talks

honestly say for e.g. you have a million dollars and u accidentally had some party drugs which you left in your pants and got caught in Indonesia, you could buy your way out. I know people can pay their way out. if you wanted to and had cash and connections, you could even bypass immigration at the Indonesian airport and get a porter to take you out right from the aircraft. I have friends who do it all the time as they are too lazy to wait in line to get out with all the stamping of passport etc.

Interesting friends you have there!

 

[punterncollect]

or a contrary view: they are MIH people!

 

[equitymate]

these are the realities of the world unfortunately , as much as anyone would disagree with it - can anything be done abt it? is the real question.

A good start would be quashing the $$ Vi$a program.

 

[Aaron_C]

A good start would be quashing the $$ Vi$a program.

You don't want their money? I saw my brother in law's invoice for 2 years of University fees - $100k! Come on....the more of these suckers the better...

 

[punterncollect]

first time I have ever seen the words "suckers" & "Asian investors" in the same sentence lol

 

[Redwood]

You don't want their money? I saw my brother in law's invoice for 2 years of University fees - $100k! Come on....the more of these suckers the better...

Who's getting the money and those places could be provided to a local boy/girl, who has studied their butts off. Just the other side of the coin...

Cheers, Ivan

 

[Melbournian]

yeah but if say you wanted to get into medicine VCE 99.0TER ranking is required.

they won't just accept someone who is 80% of 90% TER even though they have the money

what aaron is saying the fees the international students are paying are quite a fair bit to what a local student is paying. it also helps to supplement paying the high uni administrative and education costs like lecturers, IT, studies and even local grants to local students etc.

 

[devank]

Who's getting the money and those places could be provided to a local boy/girl, who has studied their butts off.

Would you sell your property at a lower price to a local if you can sell at a higher price to a rich foreigner?

 

[Deltaberry]

Every overseas student is subsidising at least 2, if not 3, local students with cheap tertiary education.

Every local student in university should go out of their way to thank at least one international student and make them feel welcome, each year.

Some people want the cheap tertiary education, yet want to bash the overseas students who make this happen? Talk about having your cake and eat it too.

 

[Deltaberry]

Would you sell your property at a lower price to a local if you can sell at a higher price to a rich foreigner?

It comes down to whether you believe in free markets or state controlled markets (ie socialism, facism)?

 

[Aaron_C]

Just saw the bill for an overseas student studying commerce at Melbourne University - $105,000 for 2 years. If that's not stimulating our economy I don't know what is.

 

[Deltaberry]

Considering our largest mines and oil and gas tenements are mostly foreign owned, not sure why we'd be concerned about a mere house in a street amongst many suburbs amongst many cities is sold to a foreigner.

 

[Tim86]

Just saw the bill for an overseas student studying commerce at Melbourne University - $105,000 for 2 years. If that's not stimulating our economy I don't know what is.

I bet I would have paid a lot more than $24 000 for my 4 yr Bachelor of Psychological Science if it wasn't for all the overseas students paying extra and subsidising my education.

I don't know why the idea of something foreign is so abhorent to Australians. It's as if using the word foreign instantly conjures up negative images. Australia needs all the foreign investment that it can get IMO.

 

[eek]

I bet I would have paid a lot more than $24 000 for my 4 yr Bachelor of Psychological Science if it wasn't for all the overseas students paying extra and subsidising my education.

I don't know why the idea of something foreign is so abhorent to Australians. It's as if using the word foreign instantly conjures up negative images. Australia needs all the foreign investment that it can get IMO.

Couldn't agree with you more. I studied as a local student, and got the benefits of HECS/HELP, however when my wife was studying, her fees were overseas student's rates. Hella expensive.

I have some friends who's parents are officials back in China and they have extremely deep pockets - ie. 6-figure everyday accounts and ~$160K AMGs for grocery shopping duties. They could barely speak English yet somehow passed their subjects every semester. I think they fund universities in more ways than just tuition fees!

Sometimes you need to wonder whether the chinese government is really trying to stop corrupt money flowing out. Since then that friend has since purchased 3 properties, all paid outright. Two of them sit furnished and vacant about 10 months a year. They just go over to check up on them occasionally.

Strangely enough, Canada seems to be heading the other direction. I guess this could be good news for investors in Australia, if you get in before 'more' Mainlanders do, lol