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[QUOTE]Originally posted by glassman: [QB] while people in America have been arguing about whether to bail out any company here (a good question to ask) the Chinese Govt has actually been building all of their competition. Nothing happens in China without Govt permission. Nobody in China can even speak negatively about the govt. Even google complies with their wishes in order to gain "market share". the worst part is that the Chinese could only do it with the help, oversight and technical expertise from the American co's themselves.... why? to make an extra 4% ROI? here's what is really happening and will happen with more frequency: [b]Rio Tinto - China strikes back Still smarting from its failed attempt to buy into the Australian mining giant, Beijing makes a new bid to secure its supply of iron ore. By Bill Powell, senior writer Last Updated: August 24, 2009: 11:54 AM ET NEW YORK (Fortune) -- After officials in Beijing last month arrested four Rio Tinto executives for allegedly stealing secrets from Chinese steel companies, China took a brutal public relations beating internationally. The outcry increased when China said that the businessmen -- including the head of Rio Tinto's iron-ore division in Shanghai, Australian passport-holder Stern Hu -- had been seized by the State Security Bureau and were suspected of stealing "state secrets." That meant they could be tried in secret and, more than likely, not even be able to offer any defense. Then, on August 11, China announced formally that the four had been arrested, but it had dropped the "state secrets" charge and will apparently base the case on commercial bribery allegations. This was, correctly, viewed as something of a climb down, a tacit admission by authorities that they had overreached. But it didn't mean Beijing still wasn't angry about Rio Tinto (RTP) having turned away from a $19.5 billion investment that Chinalco -- the state-owned aluminum company -- had planned to make in the Anglo-Australian miner. Beijing's tack now is not just to get mad. It's to get even. [/b] http://money.cnn.com/2009/08/24/news/companies/china_rio_tinto.fortune/ people talk about labor unions being bad? LOL, what happens when the Govt IS the labor Union? that's the very definition of communism. public relations beatings are just part of the game, next time? they'll actually fabricate the evidence they need to make the charges stick, and the people charged will have no defense. [b] Its fundamental interest in Chinalco buying into Rio Tinto was to break the stranglehold that Rio, BHP Billiton (BHP) and Brazil's Vale (VALE) have on global pricing for iron ore and other key commodities that China desperately needs -- and will need for decades. (Today, those big three account for over 70% of globally traded iron-ore sales.) Beijing's outrage at Rio walking away from the Chinalco investment wasn't just a fit of pique -- though sources close to the government say there was some of that. It was that Rio turned around and announced a joint venture in iron ore with rival BHP. "This was China's worst nightmare," says a banker who has advised Chinalco.[/b] http://money.cnn.com/2009/08/24/news/companies/china_rio_tinto.fortune/ [/QB][/QUOTE]
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