a quote of interest from the general thread

The quote posting from Galilio in the General Thread and please note the last Sentence of the First Paragraph:-

'Post #: 437592
In Reply to msg: #437541
IP: 202.161.xxx.xxx
Sentiment: None
Disclosure: Stock Held
Views: 31



I think a number of posters have tended to get off-topic to a degree, no doubt though, examining cultural differences is valid to the conversation, especially in light of the abysmal record of the Chinese in Africa. Control of resources there has decimated locals and helped the Chinese enormously by way of exclusivity.

The point is, an increase in the holding of RIO should not translate to a guarantee of collaring our finite resources, as these minerals always need to be open to the highest bidder on the global market and should never be locked up by single entities. Free markets, and all that

And certainly none of this inside pressure from a big shareholder to sign up long term contracts at fixed prices: ala the North West Shelf gas contract, which has proved to be a tactical loss of enormous proportions for Australians, insofar as the Chinese Govt have been buying vast quantities of our natural gas at half price since the day of first delivery, and they will continue to do so long after many of the posters here are distant memories

Further, we do have mining communities dotted all over Australia and many are single operation towns where each and every building is company owned, houses included. Which of course raises the question, what sort of life lies ahead for these serfs if they are owned by the Chinese Govt. Perhaps an endless local pressure towards cost cutting measures to the levels of third world benchmarks.

I think if we are to comment on potential changes brought on by Chinese ownership we need to look for examples of their presence elsewhere, where it will soon be found they are not good by our standards. Indeed, no Australian company operating on the same foreign shores could survive the bad news here if they adopted their practices.

Slave labour comes to mind when some of the practices are examined.' End quote

No responsibility taken for any losses in association with this Posting.

Good luck,

moly