White exceptionalism runs to both negatives and positives. Whether whites are seen as intellectually and spiritually superior or morally abhorrent, the argument that whites are intrinsically different from the rest of humanity has all the same flaws as any such argument. There are no intrinsically innocent and wise peoples of the earth, we are all the same wonderful and terrible creatures. Every community produces gentle geniuses and violent monsters. If we accept the normality of white people—and this proposition has in its favor overwhelming evidence: circumstance, (the arbitrariness of whiteness) history, (the universality of both human crimes and genius) and physiology (the genetic difference among “white” is pretty much the same as any group of white and non-whites)—this leaves us looking to social systems and systems of power for the sources of our social problems, which seems pretty sensible, when you think about it.
As of the 18th century whites could not be permanently enslaved as they sometimes had been before, and black slaves could never work their way to freedom. The whites were told this was because God had made the blacks inferior to the whites, just as the whites were inferior to the superior classes that owned property. It’s worthwhile to remember that they didn’t give whites political rights, they didn’t give whites the vote — that would not happen then nor at the revolution and independence. Whites didn’t get the vote until the presidency of Andrew Jackson. Property owners, both of land and slaves, were the only ones who could vote. That included black land and slave owners until various states passed laws in the early 18th century to take their franchise away.
I am not sure who is getting the last laugh here, because as we subsequently found out, many of those Chinese borrowed the money to buy these houses from Australian banks, using fake statements of foreign income. Indeed, according to the AFR, this was not sophisticated documentation — Australian banks were being tricked with photoshopped bank statements that can be bought online for as little as $20.