Australia is selling off its inheritance, says James Dines
A LEADING American investment analyst has criticised Australia for allowing China to buy large swathes of its natural resources in what he calls “resource imperialism”.
James Dines says Australia is in danger of squandering its “irreplaceable inheritance … traded for easily printed paper”.
Mr Dines, the keynote speaker this week at a Victorian resources seminar, also told brokers and investors that the end of capitalism as we knew it had arrived and that we were in the second great economic depression.
In an entertaining, if alarming, speech he described natural resources, including farmland, as a source of real wealth that should be kept for “your descendants”.