rio problem; lu kewen big problem , page-4

chris

Very funny post.

China the victem?

What right do they have to take over our resources and turn us into their servants? They have increadiblly strict rules on foreign ownersheip and pretty much exclude
chris

What a post.

China the victim?

What right do they have to take over our resources and turn us into their servants in our own land? They have incredibly strict rules on foreign ownership and pretty much exclude most westerners from owning their resources. China's business practices is full of corruption and they maintain troops in Sudan to keep down the locals and maintain control over their oil - in addition to Tibet and etc. We do not get any benefit from the sale of operating mines, just US dollars that are likely to devalue in the future, while losing profits.

China buys iron ore from Australia because it is far cheaper than their own, or what they can get from India (which charges a very high premium). They will continue to do so if it is in their economic interests. Without external trade China will revert to the third world country it was, and in many ways still is. We can easily buy their products from other Asian countries or make them ourselves (at a higher cost of course).

Rudd's main error is in allowing them to buy a 15% stake in BHP which got them really hungry by going after RIO as well (not to mention heaps of our smaller companies). Direct Chinese investment in Australia by their govt and state owned companies should be banned for ever. That would make things clear. China is only able to fund the purchases because it is manipulating its currency to assist its exports - and wants real assets not US dollars because its fears future US inflation.

As regards Howard being in their favour, well they should have got the large Chinese contingent in his electorate (about 10%) to vote for him instead of Labor. They thought they had a new and younger future puppet but perhaps he understands them a bit too well for their own liking.

They liked Howard because they could push him around. He lobbied (bullied?) Woodisde into the special cheap deal for China that is going to cost Woodside and Australia billions over the next 25 years.


loki