Ireland must have a strategy for inbound Chinese capital

China may see Ireland as a valuable base from which to establish and develop its interests across the so-called western world, writes Joe Gill.

I have been reading a history of China recently. It seemed apt, given the clear indications that China’s role in the global economy is becoming ever larger and its presence is being felt in many countries, including Ireland.

That presence is currently visible in sectors including aircraft leasing and renewable energy. But all major sectors abroad of relevance to Ireland — including financial services, agri-food, and travel — are subject to extensive and active acquisition activity by a range of Chinese companies. The scale of this corporate expansion is breathtaking but must be measured as a reflection of China’s emergence as the world’s second largest economy. With that market presence, it is inevitable that many billions will be deployed to build networks, market access, manufacturing capabilities, and service businesses which can project China’s interests around the world.