Chinese dodgy money mastermind plays McCarthyism card

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From the AFR:

Political donor Huang Xiangmo has suggested there is an atmosphere of McCarthyism in Australia in an article published a day after it was revealed he had resigned as chairman of Bob Carr’s China institute at the University of Technology.

…Writing on Thursday on popular Chinese Australian website yeeyi.com, Mr Huang suggested sometimes “biased” reporting by Australian media about Chinese-Australians was concerning investors and said some reports were unfair.

… Wanning Sun, Professor of Chinese Media at UTS, has warned in wake of media reports about Chinese donations that the Chinese-Australian community has not been more alienated in 20 years than they are now.

…Others in the Chinese community are happy to see Mr Huang stand aside. One source said they were worried about the influence of Chinese-Australians who have links to the Chinese government, a group they call “hóng fěn” or red fans.

Watch this 7.30Report video and tell me it was appropriate for Huang Xiangmo to retain his position:

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I am sorry to say it but this backlash has just begun. So long as plutocrats ignore the welfare of the existing population with their “citizenship exports” growth model then anger will grow:

ScreenHunter_14936 Sep. 14 15.05
ScreenHunter_14935 Sep. 14 15.05

Add an external environment becoming much more hostile to globlisation as more countries exit Europe and politicians like Donald Trump take power and the trend in the West is obvious.

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The answer is not childish rhetorical flourishes, it is to lower the immigration intake to historical norms, fess up to the population about our economic challenges, and to get on with earning our way in the world.

About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.