I don't suggest these are logical fears. I think part of the fear of China stems from the gold rush period when many thousands of Chinese descended and frightened the life out of the white colonizers which then led to the "white Australia" policy. Another element is the map of the world. Just shake it and all these millions were going to fall straight down from China into Australia.
As for selling off assets. C J Dennis satirized Australia's greed and short sightedness in 1922 when he wrote a lengthy poem about selling off minerals , "The Glugs of Gosh." Below is a portion of it which will give you the sense of his satire.
Then every month to the land of the Gosh
The Ogs, they continued to come,
With buttons and hooks, and medical books,
And rotary engines, and rum,
Large cases with labels, occasional tables,
Hair tonic and fiddles and 'phones;
And the Glugs, while concealing their joy in the dealing,
Paid promptly in nothing but stones.
Why, it was screamingly
Laughable, seemingly---
Asking for nothing but stones!
And the King said, "Haw!" and the Queen said, "Oh!
Our drawing-room now is a heavenly show
Of large overmantels, and whatnots, and chairs,
And a statue of Splosh at the head of the stairs!"
But a Glug stood up with a cast in his eye,
And he said, "Far too many baubles we buy;
With all the Gosh factories closing their doors,
And importers' warehouses lining our shores."
But the Glugs cried, "Down with such meddlesome fools!
What did our grandpas lay down in their rules?"
And the Knight, Sir Stodge, he opened his Book:
"To Cheapness," he said, "was the road they took."
Then every Glug who was not too fat
Turned seventeen handsprings, and jumped on his hat.
They fined the Glug with the cast in his eye
For looking both ways--which he did not deny--
And for having no visible precedent, which
Is a crime in the poor and a fault in the rich.
So the Glugs continued, with greed and glee,
To buy cheap clothing, and pills, and tea;
Till every Glug in the land of Gosh
Owned three clean shirts and a fourth in the wash.
But they all grew idle, and fond of ease,
And easy to swindle, and hard to please;
And the voice of Joi was a lonely voice,
When he railed at Gosh for its foolish choice.
But the great King grinned, and the good Queen gushed,
As the goods of the Ogs were madly rushed.
And the Knight, Sir Stodge, with a wave of his hand,
Declared it a happy and prosperous land.
www.abc.net.au
