Business is a matter to defect each other. It is childish or...

Business is a matter to defect each other. It is childish or idiotic to fully trust the counterpart to protect yourself. Sometimes you have to hold up on your baseline without matter who is the counterpart. So in Chinese, people always said "don't put your money in your brother's hand to make money before you know what the business deal is."

A article, "How Forrest framed his future" about the early years of FMG and its CEO, Andrew Forrest, is one you have to read to know the CRR deal and understand other possibility about its failure. At least you have to rethink why DP refused the deal. Don't read emotionally. Business is business at last.

http://business.theage.com.au/business/how-forrest-framed-his-future-20090503-ardm.html?page=-1

===No money and need a joint venture===
1. Mr Forrest called in his troops to discuss strategy.
1.1> "We have no money.
1.2> We might have to think about a joint venture," he is claimed to have said.

2. "We will have to press the Chinese about the relationship between China and Australia."
2.1> Mr Forrest and Fortescue turned again to Mr Xin, whom they had not contacted since that initial meeting.
2.2> Mr Xin said he was asked by his friend and substantial Fortescue investor, Sydney-based businessman Kie Chee Wong, to go to Perth to see Mr Forrest.
2.3> When he found out that Fortescue was dealing with the NDRC's He, an old school mate, Mr Xin offered to mediate.

3. A phone call was made, a barely awake He, who was in Kenya, was surprised to hear from someone he had not spoken to for five years.
3.1> Mr Xin claims He told him that Mr Wong should sell his shares in Fortescue as the Chinese were about to teach the company "a lesson".
3.2> The message was relayed to Mr Forrest, who wrote to He thanking him for his "continued support" of Fortescue's project.

===The contracts were not binding===
1. About a month later, an article appeared in The Australian Financial Review in which the Chinese said the contracts they had signed with Fortescue were not binding.

2. . Fortescue scrambled to respond. Public relations consultant John Field added into his draft press release information that explained that "framework agreements" were precursors to full commercial agreements, and wrote they "nonetheless are binding".

3. Mr Forrest wondered if the release was consistent with what the company had previously announced.
3.1> Mr Field replied saying the word "framework" had never before been used but was being included and he explained that was because it was in the agreement.
3.2> "What? Where is the 'framework'?" Mr Forrest asked.

4. "On the first page of the signed agreement you are proposing to release to the market — it says 'framework agreement'," Mr Field shot back.