Sunday Times: the Chinese state owns or part-owns loads of British infrastructure

[haXXor]

https://www.thetimes.com/uk/politics/article/china-millions-uk-british-companies-asylum-hotels-n7v3fwkpl

Tunnel under the paywall: https://archive.is/NOhtI

The list includes power stations and airports.

Suddenly, nationalising these things looks like an act of self-preservation, not socialist politico-economic dogma.

And this is news to whom? My house is a warehouse of Chinese manufactured goods. Not just the goods but the import transportation system depends on China and also our nuclear power stations. Most products carefully just say that they’re designed in the UK. Even if you’re prepared and fortunate enough to be able to afford to buy locally manufactured products, they’re very difficult to source. If the Times has only just noticed, it’s a long way behind the rest of us.

The Sunday Times have quantified just how bad it is. That's the "news" aspect.

Podcast on BBC Sounds about what the Gulf States owns. Saudi has 6% of Barclays Bank for example.

I welcome our new Chinese overlords.

Is it bad? We need all the foreign investment we can get. Many countries don't like China's politics, but they are all fighting for their investments.

My local bus service is run by a German company, I can take a train that I think is part owned by Hong Kong, and I think the water company is French.

'No shit Sherlock' is what springs to mind here.

Of course they do. And half of Africa. Virtually all of Mauritius. But we can't wean ourselves off their cheap labour and plastic tat. So we can't really complain.

Hardly. Very little of this wasn't already public knowledge and I am sure those who are concerned or worried had already done the maths themselves.

Dare I suggest a "slow news day"?

Suddenly, nationalising these things looks like an act of self-preservation

And the money for that comes from where?

I do agree that China have got far too much influence, and yet Labour are prevaricating about whether to allow their super Embassy!

If the profits are going overseas instead of being reinvested in our infrastructure, then yes, I think that is a problem.

The embassy isn't the problem it's the proximity to some secret communication bits that they might be able to hack into from there. But I would lay odds they can get in already (if they really want to) as well as other friendly or unfriendly nations.

They have to pay their taxes here like everyone else, we have no control over what anyone does with their profits after tax. And they also provide employment and pay wages. Not to mention the original complaint was that they are investing in our infrastructure!

"Investment in infrastructure" looks like them paying in at the start and getting money back forever far in excess of what they put in. Did we learn nothing from the PFI scandal about how we get bled dry long-term by this kind of funding model?

China's moving on from cheap tat now though. I work in renewable energy and the Chinese are doing a huge amount of cutting edge research. Admittedly, in the beginning they did use (or steal, depending on how polite you feel like being) a lot of research from the West, but they're at the forefront now.

And the UK is being bought out as effectively as any sub-saharan African country. The problem is our political class are obsessed with the short term, and everyone just wants to make as much quick cash as they can. So they're happy to sell off state infrastructure to a country that they're currently trying desperately to avoid calling a national threat. Oh well. I for one welcome our new Chinese overlords!

Stupid isn't it!

They banned Huawei phones on "National Security" better than the iPhone grounds. But all hail the MG, SAIC, Omoda, Jaecoo . . . .

Because those are apparently fine.

🙄

I don’t know how this is new to anyone who pays attention to business news.

It is very damaging.

We seem to be muddled on whether to like them or not at a gov level. Reeves went over last year and hailed it as great and then we have oh no it’s a threat.

It’s not all China’s fault, if we are prepared to take their money then it’s us too. Same for any sale, it takes two to tango.

https://www.bbc.co.uk/news/uk-67142161

Article from 2023^^

In the last year, MI5 has also seen more than 20 instances of Chinese companies considering or actively trying to gain access to sensitive technology developed by UK companies and universities through investments or other means where the full role of China is hidden, often through complicated company structures.
That has included at least two Chinese companies seeking to avoid the scrutiny required under law to access sensitive technology of UK companies undetected.

I wouldn't say it's China's fault at all. They are just sensibly taking advantage of our proud nation of idiots. Doing what is right for China- doing the best for your own country is sadly an idea that is anathema to large swathes of our political class.

OK, they are probably breaking quite a few international laws, but they don't give a shit. And there is nothing anyone can do about it now, they are too rich and powerful. I know some people thought they were crazy investing so much in Africa, but not only do they now have access to a lot of resources that are globally in short supply, they also have an awful lot of countries that will always need to vote for them in the UN. Checkmate!

Yes they buy stuff and build things. No one says no to that because they like having the money when selling and the new infrastructure that’s built.

They also have better capabilities on military and AI. Long term it’s playing a blinder, we can only hope they are benign.

We wibble between are they a threat or not, we can’t seem to determine that basic factor.

It’s funny being on the receiving end of empire isn’t it. East India Company, anyone? Massive trading organisation way before the Raj brought government into it. The Chinese want their turn at owning the world, even if it’s a quiet kind of ownership.

You'd think that, having done this kind of thing to others and seen how little they liked it, we'd be a bit smarter about not letting others do it to us.