Kaboy:
You seem a little asiaphobic about investing in Asia.
You have highlighted two examples of Australian 'individuals' that 'may' have contravened local laws. What you have failed to grasp is that these companies continue to trade in these countries and continue to return profits to their relevant shareholders.
Why don't you pay a little visit to some large multinationals that have invested in Asia and see what they have to say? Ford, GM, Fiat, Citibank, Volkswagen, ANZ, NAB all seem to be comfortable with their positions in Asia. AirAsia has now established two companies, one in Malaysia and the other in Thailand which now covers a large section of Asia. Thailand still has ownership restrictions but Malaysia is quite open to investment, maybe that's where AJ will be parking some airplanes?
In the words of a friend who works with Merrill Lynch in Asia "Asia with all it's faults is too big to ignore."
Kaboy, I'm not Asiaphobic at all. After all Asian trading paid my school fees
My Dad traded in Asia from 1935 to the mid 1970's. We did very nicely thank you.
What I am on about is the lunacy of waking up one morning and saying; "Hey! Look at all these huge Asian markets! I want to get me some of that today!" This is what Qantas appears to have done.
As you may know, Asian business is about relationships that don't just develop overnight. It takes years of patient cultivation to get to the point where someone might decide they like the idea of doing business with you. I know for a fact that some Chinese companies have waited for overseas reps to make Five straight years of sales visits before they got their first order just to see whether they are "serious" about doing business in Asia. They take a long view and "Face" is also everything.
So how much "face" does Qantas have in Asia? How much "Face" do the members of the Qantas Board and Senior management have? Where is the Qantas commitment to Asia, or are they just another Western company that smells a new market and wants to get rich quick by screwing over Asians?
These are the questions that
Asians will be asking about Qantas, and if all they get is Olivia Wirth Bullshyte, they will draw the right conclusions.
The companies who are making money in China have invested decades of their time, let alone capital, in producing something that is mutually beneficial to both parties. I would argue that not only is Qantas incapable of exhibiting that attitude, it has nothing to offer Asia that Asians cannot provide cheaper and better for themselves.