Love the prrof that China present to say they know Hu had been spying......they were spying on rio!
First task is to make sure Hu and his colleagues are safe.
Then the economic battle begins.
Couple of random observations:
1. China has been positioning for a fight. They need to save face, and this is it.
2. No coincidence the buildup of iron ore stockpiles. This build-up is why the spot price is so high. Don't bank onspot price staying up
3. The massive(100m t plus) ore stockpiles means China can stare down Rio if Rio wants to walk from iron ore negotiations.
4. But, Rio can't afford to walk
5. Don't expect Vale, BHP or FMG to side with rio...they can't afford to
6. Rio will be in the stand as much as Hu when this gets to court
rio tinto iron ore sales team arrestd in china, page-71
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$113.99 |
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Mkt cap ! $42.31B | |||
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| RIO (ASX) Chart |