Backs to financial future

"We don't see an advantage for this nation in having that stock exchange being controlled from Singapore, particularly where there is such a big controlling - and I use the word 'controlling' outside the number of shares - interest from the Singaporean authorities," Brown said on October 26.

The Greens' policy is to "reduce Australia's foreign debt and foreign ownership through use of trade, financial and regulatory measures to ensure more productive use of foreign capital and strengthening of Australian manufacturing, recognising the need to support economies in developing countries".

In other words, the Greens want to go back to the dark days when governments protected industries from foreign competition or foreign capital.

Then there is the Greens' idea of monitoring foreign ownership of agricultural land, a policy supported by the xenophobic Liberal Party, which these days is fast becoming the Tea Party of Australian politics.

Deputy Greens Leader Christine Milne said last week: "We need to secure land and water for food production by improving sustainable production and we need to keep farmers on the land by making sure they can make a living in the face of Coles and Woolworths' duopoly and cheap imports."

Christine Milne wants us all to pay high prices for meat, fruit and vegetables and support farmers' lifestyles.

She seems to care little for the fact that such a policy will hit low-income earners, who will be unable to afford these high-priced products.

The rise of economic nationalism goes hand in hand with xenophobia.

This time the scapegoat is the Chinese.

Last year when Chinalco bid for Rio Tinto, Brown fumed that this "nation should not vest power over its future resource management in the hands of the brutally repressive Beijing bosses".

"There is a real danger of Chinalco's bid to control Rio Tinto today extending to the CIC's control over roads, public transport or privatised water corporations in Australia tomorrow," Senator Brown warned on February 18 last year.

Once again, as he did in the case of Singapore, Brown dresses up an otherwise nakedly xenophobic attack on China with a concern for human rights.