A couple of months ago China signed new iron ore contracts with Vale and BHP at a higher price, valid until April 2009.... but now some sceptics here believe that China with a population of 1.5 billion no longer has need for iron ore?
So the Chinese are stupid? Vale and BHP are stupid? Is that the assumption? China pays higher prices for something they don't need?
I don't know whether to laugh or cry at the guillibility.
target thursday , page-30
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