By Bryan Gould

COMMENT:

To express concern about foreign ownership and control in New Zealand is often to invite accusations of xenophobia and economic illiteracy. It is worthwhile, therefore, to rehearse the grounds for that concern.

The most obvious manifestation of foreign influence is the sale of New Zealand assets to foreign interests, as in the case of the proposed sale of Westland Dairy Cooperative to the Chinese dairy giant, Yili. Such a change of ownership inevitably means some loss of economic benefit.

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When a New Zealand asset is sold to overseas interests, the economic benefits produced by that asset

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