Treasurer Josh Frydenberg’s reluctance to approve the controversial sale of Australia’s Lion Dairy to China Mengniu Dairy is due to concerns about the strategic risks attached to Beijing-backed ownership, according to one expert.
Salvatore Babones, an associate professor at the University of Sydney, told The Epoch Times on Aug. 26 that even though Lion Dairy is owned by major Japanese beverage firm, Kirin Holdings. The prospect of a significant Australian business falling under Chinese ownership was a major concern.
