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Controversy over Chinese Rare Earth Investment Prompts Legislative Amendments; Australia Plans to Grant Its Finance Minister Veto Power.
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Under proposed foreign investment legislation reforms by the Australian government, Treasurer Jim Chalmers will have the power to directly cancel transactions between foreign lending institutions and clients if he determines that a business agreement poses a national security risk. This proposal stems from a comprehensive review of Australian foreign investment law, partly due to Chinese interference in the rare earth company Northern Minerals, …
·New York, United States
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