The Chinese and Japanese govts and India's steelmaker Mittal...

The Chinese and Japanese govts and India's steelmaker Mittal pressured the EU not to allow the BHP/RIO merger, and now they have the clear opportunity to take over the Pilbara area for themselves. I guess they had a lot of foresight, something lacking in our govt.

Rudd will not stand in the way of progress so we should expect RIO to be broken up among the victors, after which they will just bring in their own labour, depress the price of our coal and iron ore etc so that they can take over other assets on the cheap.

Subsquently as we continue to find that govt tax revenue is not able to sustain the nutty social welfare system and all the hangers on, the rest of Australia's assets will simply be sold off. This has already happened with the so called privatisation of Victoria's electricity generation plants which are owned by the Chinese govt. NSW's Labor govt is lusting to do the same to fund the infrastrucutre that the Labor Party is foisting on Australia by its massive population transfer into Australia.

loki