An article today titled ‘China Rattles Investors With Detentions of Executives’ speaks to the concern around the ‘Rio Tinto Detention Event’ that I wrote about last week on the day it was first reported.  The article says “The allegations, which may be rooted in a pricing dispute, have rocked the global iron ore industry, strained China-Australia relations and could have a chilling effect on foreign businesses doing deals in China. Companies with operations here have been closely watching the case”.

A separate related article titled ‘China president endorsed Rio Tinto probe’ says that according to Australian media reports “Chinese President, Hu Jintao, personally endorsed the investigation into Rio Tinto that led to the arrest of the mining giant’s Australian iron ore executive”, and that ‘Australian officials will meet with Chinese diplomats later today to press for more information about the case”.  As I see it, for China’s President not only to be informed of this matter but to approve it says volumes about the gravity of the situation from China’s point of view – particularly when the current world economic conditions are taken into account.  The more I read and think about this situation, the more convinced I am that it needs to be resolved in the most expedient manner possible.

Click here for Research on Mining and Oil and Gas Stocks.

See Blog Legal Disclaimer

Possibly Related Posts:

• America’s Top Export – Fuel!
• Chinese Village Protest!
• Potential Big Big Deal?
• China Oil Imports!
• Chinese Yuan to Trade Against Aussie & Cdn Dollars!

Trackback URI | Comments RSS