Support us Picture: David Gray / Getty via The Conversation The Chinese-owned firm that operates the Port of Darwin isn’t happy about the federal government’s push to return it to an Australian owner. Now, the situation is escalating, with the stage set for an international legal showdown. The Albanese government has been in talks with Landbridge Group, whose parent company is headquartered in Shandong province, China, to return the port to an Australian owner, following an election promise. But in late April, Ye Cheng, the Chinese billionaire who founded Landbridge, initiated proceedings against Australia at a World Bank tribunal, the International Centre for Settlement of Investment Disputes. The government has said it will defend the claim. This case may take years to resolve. But it’s not the only example of a Chinese company taking on a national government, claiming to be unfairly excluded based on national security or other concerns. Right now, many of these cases are still pending. But these rulings could have major financial implications if they provide a route for Chinese firms to demand compensation from governments for any losses caused by political decisions.
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