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...mining companies fear that the investment in Rio Tinto could give China more influence over the price. During the boom years, when Chinese companies' appetite for virtually every metal was voracious, they got stuck with stiff price increases. The deal could give Chinalco, which already owns 9.3% of Rio, better access to the company's choicest deposits of copper, iron ore and bauxite. The secretary-general of China's Iron and Steel Association, Shan Shanghua, has already hinted that Chinese buyers could have some additional clout. This rankles some of Rio's major shareholders...
These were expensive lessons, but Beijing has decided that Going Out is still a better economic strategy than staying home. Despite China's slowing economy, officials see the global recession as a prime opportunity to cheaply acquire strategically important raw materials such as iron ore, copper, oil and gas--commodities China will need in vast quantities in the long run. In the past two months, Chinese companies have sought to buy assets abroad at an unprecedented pace. Aluminum Corp. of China (Chinalco) has announced plans to invest $19.5 billion in Rio Tinto, one of the world's largest mining companies...
...America Foundation think tank, had already started, but Zandi slid into an empty chair onstage and seamlessly joined a debate about the Obama Administration's handling of the economy: "The totality of the federal response has been very good. By this time next year, things will be much better...
...Washington Shifting DOD Priorities Defense Secretary Robert Gates has called for a major adjustment in defense spending that he says will make the U.S. better equipped for the conflicts in Iraq and Afghanistan. If approved, the Gates budget will...
...been easy, with the weather turning out to be the least of her problems.The biggest hurdle Cao faced was overcoming a fractured kneecap from a biking accident and an injured wrist that kept her out for the majority of last semester. “I’m all better now,” Cao said with a hint of relief. “It’s good to be back on the court. I’m trying to improve with each match I play.” Add her injuries to the fact that over...