The difference between Australia and NZ

On the one hand we have Trevor Mallard and various other attention seeking morons wanting to ban Chinese ostensibly, but foreigners in general, from owning land, and at the same time forbid Kiwi owners from digging up or enjoying the resources that they already own. Leaving with little option other than tos ell to the highest bidder.

And in Australia, one decidedly plain woman…ok ugly…with her sale of shares to Posco, a Korean company, has cemented her place as Australia’s richest person and is closing in on the title of the world’s richest woman.

If she lived in New Zealand we would have had Trevor Mallard try and spike the deal, Bernard Hickey decrying the deal, Gareth Morgan insisting she pay capital gains tax, never mind Australia has one, and he refuses to pay the same and Selwyn Pellett telling us all that she should set up a high tech fund to provide massive corporate welfare for him and his mates so they can enter tame competitions and call themselves entrepreneurs.

So while Australians enjoy their wealth garnered from mining and other magnificent feats of engineering, here in New Zealand we are moaning about some clapped out farms of no real consequence on marginal land that without the cows and the associated Fonterra shares is pretty much worthless.

What’s got me buggered is this news from years ago:

The one confusing factor is that of lactose intolerance. The majority of Chinese adults suffer a deficiency of lactose, the enzyme needed to break down the lactose in milk and the common trigger for lactose intolerance.

Wait until the petite Chinese women realise that you don’t get a Kiwi women’s arse without eating mountains of dairy.


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  • ConwayCaptain

    About 20 years ago I was sent to Posco’s plant at Kwangyang Bay in Korea to supervise the loading of a shipemt of slab for NZ.

    The wharf if you can call it that was several miles long.  At one end was the berths for the large bulkers carrying iron ore and coal and at the other end the berths for the smaller vessels up to 35,ooo tonnes loading finished product.

    The steel plant itself disappeared into the distance from the wharf and I dont know how many sq miles it would have covered.

    • I worked for 6months in Posco’s ICT centre in Bundang…very interesting work.

      • Hakim of Phut

        Thanks to the Korean government who funded them to build a steel works from scratch. 

        In NZ the government is  putting in $400 mill for marginal irrigation in Canterbury. That sort of money would buy about 5% of Gina Rineharts & Poscos Roy Hill project. Rinehart has only spent $100 mill to prospect the site. Perhaps we could offer her citizenship here instead of Dotcom, we have lower top tax rates.

  • johnny gigolo

    hey, she looks bloody gorgeous to me buddy….

    • Petal

      You chase her around the bedroom for a while and watch those cheeks reduce back to two!

      • Petal

        Should have said chins.  My kingdom for an Edit function my dear Cam.

  • Petal

    If she lived in New Zealand we would have had Trevor Mallard try and spike the deal, Bernard Hickey decrying the deal, Gareth Morgan insisting she pay capital gains tax, never mind Australia has one, and he refuses to pay the same and Selwyn Pellett telling us all that she should set up a high tech fund to provide massive corporate welfare for him and his mates so they can enter tame competitions and call themselves entrepreneurs.”

    We talk too much.  We’re a nation of talkers.  And we commit economic suicide by 1000 (verbal) cuts on just about every issue.  Unless it’s a minor issue, like the price of an Adidas jersey, and then we find a common voice, oddly enough.

    It’s embarrassing.  We’re the world’s simple cousin.

    At the same time we’re pretty and friendly and will lift our skirt for a small fee for those who want to come peek.

  • Hakim of Phut

    First its a development project, so there is big money to be spent to create the infrastructure to get the iron ore in Poscos ships. 

    That would be a very good reason why the Koreans would get approval if this was in NZ. The Crafar farms are up and running so  overseas owners add nothing to the venture.

    As for Australia, yes they knocked back Chinese investment in existing mining industries. The Chinese are very good at building up projects in China , but overseas they often seem to want to only have its people on the board.  A different matter if they could build the entire project with Chinese labour in Australia and import all the equipment from China

  • Kthxbai

    What is this about kiwi women’s arses?  Let him without moobs cast the first stone.

  • Mort

    Dairy is not the problem in NZ, its the sugar and diet coke addiction. Why do kiwi chicks in Sydney’s eastern beaches shed their pony riding derrières within 12 months of migrating there? Could competition have anything to do with it? 

    As for the dairy farms being sold to the Chinese… yes Hakim the things are already producing and so the amount of milk products coming out may improve a little, but the diference is that the receivers are going to get $35m more from the Chinese than they will from the others who are trying to use emotional blackmail to force the govt to have the farms sold for below market value to them.
    Have the investors who stand to lose 20% of their investment already, got no rights to demand the best sale price achievable, and be forced to take a bigger loss than they al;ready are… as an aside, is the finance company that funded these farms in the Govt’s deposits guarantee system, and will the loss trigger a Govt liability?

    • Hakim of Phut

      It was funded by the banks. No one is suggesting they will be sold at a loss. Its good dairy land remember.

      • Kevin

        Ummm Hakim. Its not good dairying land. Its actually alot of marginal land that never should have had cows on it in the first place…which is the main reason the receivers were called in.

      • Hakim of Phut

        Its all around the North Island , and it makes more sense than Canterbury. Cant be too bad around Reporoa where others are spending big money to turn forests into farms

      • Callum

        Reporoa got converted to dairy because of the ETS, if the forests were still standing at the start of 2008 much of it would have attracted a very expensive deforestation liability making it uneconomic to change use later on. It also occurred at the peak of the dairy boom when people were throwing cows onto any bit of land they could find based on dodgy forecasts of prices staying at an unrealistic peak. Much of the Crafar farm expansions were not decent dairying land and a shortage of cows saw them buying some rubbish cows at the peak of the market.

      • Lofty

        The Crafar farms at Poronui are just filthy shitholes that place large amounts of cowsh and fert into the Tararua stream on on into the Mohaka creating a algael growth that will eventually kill the systems.
        Whomsoever gave permission and approval for those farms to be converted from forestry into extremely marginal dairy units, needs reaming up the arse with a red hot poker.

    • Guest

      The ‘investors’ are Westpac et al, who should just have to suck up the results of their poor loan decisions. Given their record profits, it was hardly going to break them.

      There is not the slightest reason why these sixteen farms could not have been put up for mortgagee auction and sold to the highest bidder on the day. That’s what usually happens when people default on their mortgages. I guess that would have been too simple/tidy for Korda Mentha.

      • Paulus

        Westpac (and its public shareholders) are the Owners of the Crafer Farms.
        They are owed money and quite rightly want as much back as possible, probably below what they are owed.
        It is up to the New Zealand group, or whatever, to put up the highest bid and not pontificate and bitch about overseas ownership in the hope that the bank will sell at a lower price than on offer.
        Get real.

      • Hakim of Phut

        The Crafars didnt default on their loans, the bank just exercised their option to call in the loans ,mainly because they were overexposed  in the dairying sector

  • Ploughman

    Racism in NZ, lack of ethics and an expensive and biased legal system are well known in Asia, to our detriment.  We need major reform of how we do business if we are to be as attractive to foreign investment as Australia and Brazil. 

    We are fantastically rich in resources.   Most people do not know that on a per capita basis we are the second most well endowed country on earth for minerals (including petroleum)  – far richer than Australia (8th).  Yet Aussies wallow in riches derived from mining (good luck to them) while we have…..Pike River, whose problems were largely caused by under-capitalisation.The demand for milk powder in China is due to the current demand from young mothers who have to work long hours for 6  days a week.  Their precious babies are left with Gran, or other care givers who pop bottles of formula into precious’ mouth at appropriate intervals.  NZ milk powder fetches astronomical prices because it is seen as safe and good.  I don’t know exactly who makes the extortionate profits in this trade, but it ain’t NZ.   Cow’s milk is at the opposite end of the spectrum to human milk – you cannot find a worse milk for human infants than dairy.  We would be better off milking camels nutritionally, environmentally and economically (don’t laugh – camel farming is undergoing trials and development overseas).  How long will the high demand for infant formula last?  Well Chinese Mums aren’t stupid.  They know that breast is best. Expect increasing demands for better working conditions so that Mums can care for bub at work.Worryingly, adult Chinese do not consume much dairy because of lactose intolerance (mentioned by WO) . We manage to make a very unpromising food source – cows’ milk – into a reasonable, though not perfect baby food.  How long will this last?  The threats are: social changes in China (will happen fairly soon?), alternative milk sources (20 years +), competitive supplies from China and other nations (ongoing).  I doubt if dairying in its present form is a long term industry.  There is a good possibility that most dairy plants may not pay off their capital investment!

    • Hakim of Phut

      You seem pretty anti milk. Your comments about milk for infants  runs in the face of 2000 years of history for Northern Europeans.

      • Ploughman

        I can’t help facts! Look up any standard sources – Mepham is a good place to start.  He said that if all the mammal species are set in a row as to their to milk suitability to humans then cows would be at one end, with rich and fatty milk designed for rapid somatic growth, and humans at the other, with thin and protein-rich milk adapted for slow growth.  We should NOT be feeding cow’s milk to our infants unless we have to. That we can make it into a reasonably satisfactory infant food is a triumph of research.  During most of the 8,000 years following the domestication of aurochs, infants were fed mother’s milk.  Only children and adults used cow’s milk.  
        But I admit getting mothers to fed their young is a battle that is being lost owing to slick marketing and convenience.  It’s a shame as human milk is cheap, ideal, and doesn’t go off.
        Camels give 30 l/day of better quality milk vs cows 40 l/day, but they need little water and will eat virtually anything, so are far superior ecologically to cows.They suffer from uncertain calving, but this could be improved by stock improvement research.

  • Euan Rt

    For me the problem is that the market value should be set by Kiwis. If overseas investors are allowed to enter the property market ‘ad lib’, then I fear that soon Kiwis will not be able to afford Kiwi real estate.