BizConnect - No way for China to do business »
Posted By engineer 5 months, 3 weeks ago in Business & FinanceDoing business with China has never been easy or without risks. It’s a littlie dicier these days because what’s regarded elsewhere as commercial information instead is seen by Beijing as a state secret. And that’s especially true when trade negotiations aren’t going China’s way. Case in point: The recent “detention” of four Rio Tinto Group employees in Shanghai on charges they had steel and iron ore market information. Australian iron ore mining giant Rio Tinto and the Chinese steel industry, the largest in the world, have been haggling for months over a fiscal 2009-2010 master supply contracts. China wants a price cut of 40%; Rio Tinto (like its rivals BHP Billiton of Australia and Vale of Brazil) has been offering a 33% cutback accepted by steelmakers in Japan and Korea. Atop that, Rio Tinto has broken away from a $19.2 billion investment deal with state-owned mining giant Chinalco because of political bickering between the government of Prime Minister Kevin Rudd and Australian opposition party leaders.
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engineer
Hi
My background is Biomedical engineering with an MBA As you know from all my comments where I almost stand politically. I have loads of ...
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