This is simpler version of my recent post on the implications of Chinese buying Australian agricultural land.
Question: Should foreigners be allowed to by U.S. farming land etc. What are the economic arguments (and morale ones) for and against this? Is this considered an investment from the U.S. perspective?
To digress a little, i'm asking because in Australia there is a protectionist campaign against the Chinese buying our agricultural land as it compromises our "bio/food security." Basically, all the produce will be sent to feed Chinese!
Thanks
Chris
AussieAustrianBlog:Question: Should foreigners be allowed to buy U.S. farming land etc.
Yes.
AussieAustrianBlog:What are the economic arguments (and moral ones) for and against this? Is this considered an investment from the U.S. perspective?
Probably the usual protectionist arguments.
AussieAustrianBlog:Basically, all the produce will be sent to feed Chinese!
Well I don't think that that is what they mean (or maybe they do). But just because the company is owned by the Chinese doesn't mean that 100% of the product gets sent to China.
I would. ^^ Muarharhhaaar. :P
But yes, in essence, the property owners are the ones that call the shots wether they wish to sell their lands and to whom. Governments insisting that it's a bad idea might as well hunt every non-national and expell them from their territories.
Governments insisting that it's a bad idea might as well hunt every non-national and expell them from their territories.
Most try.
And no, from an optimal market perspective it doesn't matter in the slightest what the nationality of the owner of some piece of land is just as it doesn't matter whether it's a man, woman, christian, agnostic, etc...
we have the same situation in new zealand",'you know as well as i do the amount of land owned by chinese in oz or new zealand is next to nothing . basicaly when ive heard the arguement i think its racisim by stealth.but i am remined of when japan brought our golf coures but couldnt run them.i smell malinvestment,hey maybe we can sell them chirst church.lol just felt the ground shake.
Can you comment on how foreigners buying U.S. farms constitutes investment for the U.S. as oppose to what protectionists claim - money leaves the U.S. going to China or wherever?
My feeling is that foreigners must ultimately operate in U.S. dollars and if U.S. dollars goes back to say China, then ultimately it must come back to the U.S.??
Sorry if you already received this reply, i couldn't see my previous reply on the thread.
Its funny. Just the other day I engaged this guy in an Albanian forum because he was advocating disallowing private property in immovables for foreigners.