Campaign Against Foreign Control of Aotearoa
Encyclopedia
The Campaign Against Foreign Control of Aotearoa
(CAFCA) is a research and lobbying organisation combatting what it considers the sell-out of New Zealand companies and assets to overseas interests.
) are amongst the weakest government branches, 'rubber-stamping
' investment instead of regulating it.
Direct ownership of New Zealand companies by foreign parties increased from $9.7 billion in 1989 to $83 billion in 2007 (an over 700% increase), while 41% of the New Zealand sharemarket valuation is now overseas-owned, compared to 19% in 1989. Around 7% of all New Zealand agriculturally productive land is also foreign-owned. CAFCA considers that the effect of such takeovers has generally been negative in terms of jobs and wages.
CAFCA are one of the organisers of the Roger Award For The Worst Transnational Corporation operating in New Zealand
.
Aotearoa
Aotearoa is the most widely known and accepted Māori name for New Zealand. It is used by both Māori and non-Māori, and is becoming increasingly widespread in the bilingual names of national organisations, such as the National Library of New Zealand / Te Puna Mātauranga o Aotearoa.-Translation:The...
(CAFCA) is a research and lobbying organisation combatting what it considers the sell-out of New Zealand companies and assets to overseas interests.
Economic criticism
One of the main planks of CAFCA is opposition against foreign acquisition of New Zealand assets. In this regard, they criticise the free-market policies which have made such foreign acquisition possible, and the fact that the relevant regulatory authorities (such as the Overseas Investment OfficeOverseas Investment Office
The Overseas Investment Office is the New Zealand government agency responsible for regulating foreign direct investment into New Zealand.- Overview :...
) are amongst the weakest government branches, 'rubber-stamping
Rubber stamp (politics)
A rubber stamp, as a political metaphor, refers to a person or institution with considerable de jure power but little de facto power; one that rarely disagrees with more powerful organs....
' investment instead of regulating it.
Direct ownership of New Zealand companies by foreign parties increased from $9.7 billion in 1989 to $83 billion in 2007 (an over 700% increase), while 41% of the New Zealand sharemarket valuation is now overseas-owned, compared to 19% in 1989. Around 7% of all New Zealand agriculturally productive land is also foreign-owned. CAFCA considers that the effect of such takeovers has generally been negative in terms of jobs and wages.
CAFCA are one of the organisers of the Roger Award For The Worst Transnational Corporation operating in New Zealand
Roger Award
The Roger Award For The Worst Transnational Corporation Operating in New Zealand is an annual media campaign run since 1997 by two activist organisations, Campaign Against Foreign Control of Aotearoa and GATT Watchdog...
.