Winston’s dilemma

January 26th, 2012 at 2:00 pm by David Farrar

At I blog on Winston’s dilemma:

The sale of the farms must pose an awful dilemma for Winston Peters.

The leading bid for the 8000 hectares of farmland is $210 million from Shanghai Pengxin, a Chinese company.

Winston has spent most of the last 20 years railing against the Chinese. He has railed against Chinese immigration to New Zealand, he has railed against Chinese investment in New Zealand and despite being the foreign minister, railed against the 2008 free trade agreement with China (despite its having increased our exports to China by $3 billion and reducing our current account and trade deficits). …

But look at who else is lined up to buy them. Sir Michael Fay leads a group which is offering $170 million for the farms – $40 million less than Pengxin. If Pengxin is turned down, then Fay will pick the farms up for $40 million less than the market price.

Now if there is one person that Winston Peters hates and rails against even more than the Chinese, it is surely Fay. Peters alleged all sorts of wrongdoings by Fay and Richwhite in the late 80s and early 90s, and this led to the Winebox inquiry.

It gives me a certain pleasure to reflect that whatever the outcome, Winston will be unhappy :-)

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6 Responses to “Winston’s dilemma”

  1. BeaB (2,110 comments) says:

    Your enemy’s enemies are your friends.
    He has always been a political slut.

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  2. Ed Snack (1,841 comments) says:

    Perhaps the one thing that Winston isn’t wrong about; his assessment of Sir Michael.

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  3. davidp (3,578 comments) says:

    If the government forces Westpac to sell the farms to someone for far less then the Chinese are offering, then presumably they’re making lending riskier for banks and finance companies. If so, that will probably lead to a rise in the risk component of bank and finance company lending.

    Michael Faye makes a $40million killing, and the rest of us pay for it in higher interest rates. Thanks a lot Shearer!

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  4. Mark (1,474 comments) says:

    Is there a risk that carte Blanche foreign ownership going to make it nigh on impossible for an aspiring young NZ farmers to get on the land or is that simply scaremongering. High land prices could well be a double edged sword for the industry in NZ as foreign ownership and inflated farm prices do not by themselves improve production or help the industry in NZ but they certainly will make the entry point for those seeking to enter the industry beyond the reach of all but a few.

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  5. bka (135 comments) says:

    Kiwi Mums and Dads investors all the way.

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  6. Paulus (2,603 comments) says:

    Winston’s dilemma is simple – its being Winston.
    A well known hyppocrite – feted by the so called Media, because he can be relied upon to pontificate upon which ever way suits him.

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