Monday, September 3, 2018

Meanwhile In France: "Get off our land, French farmers tell Chinese investors"

Continuing the examples of how touchy folks are about foreign investment, as seen in this morning's "Qatar Mulls Multi-Billion Investment in German Enterprises—Handelsblatt"

From AFP via The Straits Times:

Get off our land, French farmers tell Chinese investors
CHATILLON-SUR-INDRE (France) • Mounted on tractors and wielding flares, angry farmers came from all corners of France to say to Chinese investors: Get off our land.
More than 100 farmers swarmed on a Chinese-owned field in the Indre region of central France on Wednesday, occupying it in protest at what they say is financial speculation.
Waving the flag of France's Farmers' Confederation, they filled a seed drill with rye and sprayed grain in a demonstration to symbolise the need to "take back the land for the farmers".
Confederation spokesman Laurent Pinatel, said: "The land is there to provide for farmers' families and to produce food.
"The owners have come here to make a profit, to speculate on agriculture while monopolising the land," he added.
Chinese consortium Hongyang bought 1,700ha of land in the Indre in 2016, growing wheat for the international market.
The group has also snapped up 900ha in the nearby Allier region, adding to mounting worries in rural France that their traditional family ownership model is under threat from a huge rise in investor purchases.
Chinese investors have spent at least €76 billion (S$121.4 billion) on French land since 2010, according to figures published by the American Enterprise Institute and Heritage Foundation...MORE
I don't know why Heritage or AEI would be keeping tabs on Chinese investments in French real estate although I see the attraction. Starting back in June 2012:

"French Farmland Offers Better Value than UK Land"

We've been posting on British Farmland for years but, outside of the odd Chateau listing and the effects of climate on wine growing I think this is the first French farmland post.
Two things to be very, very wary of: The Common Agricultural Policy and the French tax code.
And then in 2016:
China Buying Farmland In Central France
"Chinese Investors Are Buying Up French Farmland"

And this February "Chinese billionaire sees a goldmine in French fields"

The has more on the latest:
'This is our land': Furious French farmers protest Chinese investors