ABC News has cited former Australian Treasurer, Mr John Dawkins, as saying that more Chinese investment is needed in Australia's mining industry.
Mr Dawkins says that without Chinese investment much of Australia's resources will remain in the ground. He told a forum at Adelaide University on Wednesday that the Federal Government needs to resist public criticism of Chinese investment in mining and strengthen its economic ties with China. He added that "What's important for us is to further develop the economic relationship with China, it's a growing economy which makes it almost unique in the world today, it's an economy which is going to have a great need for mineral resources in the future."
Mr Dawkins said "There are billions of tonnes or iron ore, not only in Australia but around the world, and it's very important for us to secure a market for that iron ore and the market at the moment is China. He said that we should be happy to have Chinese investments helping us to develop those mines in order to provide the commodities which they themselves need."
SourcE: Steel Guru
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