Angry China bleats as Frydenberg knocks back another takeover

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Via The Australian:

China has accused Australia of “weaponising the concept of ­national security’’ after a $300 million bid by a Chinese state-owned company to buy a ­construction company was scuppered by Josh Frydenberg.

China State Construction ­Engineering Corporation pulled its nearly $300m bid for the ­Australian-based but South ­African-owned Probuild after the Treasurer indicated before Christmas that the acquisition would be turned down on national interest grounds.

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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.