30 May '11, 9am

New Zealand PM warns on xenophobia against China

New Zealand PM warns on xenophobia against China

New Zealanders could not afford to be 'totally xenophobic' towards Chinese investment because it has brought jobs and capital into the country, Prime Minister John Key (right) said on Monday. -- PHOTO: AP WELLINGTON - NEW Zealanders could not afford to be 'totally xenophobic' towards Chinese investment because it has brought jobs and capital into the country, Prime Minister John Key said on Monday. Mr Key, who has previously said New Zealanders risked becoming 'tenants in their own land' if foreign firms were allowed to buy farms without restrictions, said there were positive aspects to investment from Beijing. He said China's Bright Dairy & Food Co took a controlling stake in South Island milk producer and processor Synlait last year and was now expanding the business. 'So they're not buying the land, they're bringing in capital and that's creating jobs,' Mr Key told TVNZ...

Full article: http://www.straitstimes.com/BreakingNews/World/Story/STIS...

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