Australian Prime Minister Kevin Rudd has signaled that he does not support adopting a defensive stance against Chinese outbound investment, AP reported. Speaking in Washington, Rudd urged Americans not to view Beijing as an enemy, arguing that the “smart course of action” is to further integrate China into the global economic and political system. “If China was to turn its back on that or not be responsible, the world would soon know,” Rudd said. Separately, Australian Treasurer Wayne Swan also stressed his country’s openness to foreign investment, including that originating from China, the Wall Street Journal reported. Swan, who has final say over several proposed Chinese investments in Australia’s mining sector currently under review, said he would consider Chinese firms’ ties to the central government and “apply very vigorously our national-interest test.” According to the Melbourne Herald Sun, China is “secretly bankrolling” Swan’s economic rescue plan by buying 15-20% of Australia’s treasury securities’ weekly issues.
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