Baukaw, I can give you the number of the Asia Times for you to...

Baukaw, I can give you the number of the Asia Times for you to condemn their blatant distortion of reality by labelling the stanglehold of Iron Ore supply as "cartel". In fact the Chinese had in the past called it MONOPOLY which is even more sinister than a cartel.

Time for a Tequila !


http://atimes.com/atimes/China/MG23Ad01.html

CITIC Pacific's bet on Sino Iron reflects the importance of imported iron ore to China's economic growth and China's determination to fracture the iron ore exporters' cartel, which China believes has extracted 30 billion yuan (US$4.3 billion) to 40 billion yuan in excess profits from China's steel mills. The blowout also exposes the challenge for Chinese companies of factoring in high salaries in Australia, against expectations they may be able to use cheaper skilled labor from home.