One Nation leader Pauline Hanson has penned a letter to Prime Minister Scott Morrison

One Nation leader Pauline Hanson has warned of a 'mass foreign buy-up' as Australia's economy crashes amid the coronavirus crisis.

She issued the warning in a letter to Prime Minister Scott Morrison amid growing concerns about the coronavirus panedmic.

'Our unemployment numbers are surging, our stocks have been knee-capped, housing prices are set to fall, and our dollar is weakened which places Australia in the most vulnerable position we have seen for a very long time,' she said.

'I won’t tolerate China or any other country coming in here and buying Australia up for a song, leaving our people without a say.'

'What’s happening right now in this country and right across the globe should be a wakeup call to all politicians, stop allowing the sell-off of our industries and manufacturing and start investing in ourselves. Water, manufacturing, industry, agriculture, and jobs for Australians.'

In 2018, Foreign Investment Review Board Chair David Irvine estimated critical infrastructure transactions totalling more than $40bn had been approved in just three years.

Senator Hanson said approval was being granted too freely and was not keeping Australians' best interests in mind.

'Between 2007/08 and 2017/18, the Foreign Investment Review Board reviewed almost 12,000 applications and rejected just five,' she said.

'How can the FIRB, which has one permanent employee and a handful of part-time members, give proper consideration to the sale of so many Australian assets?

'It can’t and therefore they aren’t looking out for the best interest of all Australians and need to be stopped.'

She added that Australia's reliance on other countries for goods while selling its own, was responsible for crushing the economy amid the crisis.

'The faith the Liberal and Labor parties have placed in globalisation has been shown up as a failure off the back of this pandemic,' Ms Hanson said.

'What’s happening right now in this country and right across the globe should be a wakeup call to all politicians, stop allowing the sell-off of our industries and manufacturing and start investing in ourselves. Water, manufacturing, industry, agriculture, and jobs for Australians.'

It comes as coronavirus-induced lockdowns have forced thousands of businesses to close across the country.

Senator Hanson has predicted foreign investors will snatch up Australian properties if house prices drop during an economy slump induced by the coronavirus pandemic

Retail, hospitality, transport, personal services, arts and recreation industries have suffered major job losses as government regulations have cracked down on the use of non-essential services.

These five industries make up for 3.3million jobs - or 26 per cent of total employment in Australia.

Earlier this week, Australian Council of Trade Unions secretary Sally McManus warned Mr Morrison that two million jobs could be lost in two weeks under the current restrictions.

CORONAVIRUS CASES IN AUSTRALIA: 26,898 Victoria: 20,042 New South Wales: 4,200 Queensland: 1,152 Western Australia: 662 South Australia: 466 Tasmania: 230 Australian Capital Territory: 113 Northern Territory: 33 TOTAL CASES: 26,898 CURRENT ACTIVE CASES: 903 DEATHS: 849 Updated: 8.50 PM, 20 September, 2020 Advertisement

'The severe downturn already occurring in those sectors is sufficient to cause a major recession (destroying 1-2 million jobs in coming weeks),' she said in a letter to the Prime Minister on Wednesday.

The Federal Government has introduced two supplement packages this month with a combined total of $189billion in a bid to soften the blow of the economic downturn.

The first supplement announced on March 12 will provide a one-off payment to welfare recipients of $750, designed to stimulate economic activity.

On March 22, a second cash injection was set-up allowing those facing unemployment to access various Centrelink benefits as well as payments for small businesses to assist with loans and to hold on to their staff.

Bracing for a recession, the government has said that more supplement packages can be expected to roll out in coming months.

Daily Mail Australia has contacted the Prime Minister's Office for comment.