Word: china
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Dates: during 2000-2009
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...arrests come weeks after the collapse of a bid by Chinalco, a state-owned Chinese aluminum manufacturer, to invest $19.5 billion in Rio Tinto. That timing prompted some observers to suggest that the arrests were retaliation for the spurned investment. (Read "Another Deal Blown, Where Will China Invest...
...Australia of course has significant economic interests in its relationship with China," Rudd told reporters on July 15, "but I also want to remind our Chinese friends that China too has significant economic interests at stake in its relationship with Australia and with its other commercial partners around the world...
...Rudd, a Mandarin speaker who once served as a diplomat in Beijing, has pushed for closer relations with China, Australia's biggest trading partner. Until now his government has avoided "megaphone diplomacy" in the Rio Tinto case, but pressure from the opposition has led Rudd to take a much tougher stand as Hu nears two weeks in detention. "A range of foreign governments and corporations will be watching this case with interest and be watching it very closely," Rudd said. "And they'll be drawing their own conclusions about how it is conducted." (Read "China Buys Australia On the Cheap...
...China's Foreign Ministry rejected the criticism. "We attach great importance to the stable development of economic and trade relations, but we are firmly opposed to anyone stirring up the case and interfering with China's independent judicial authorities," said spokesman Qin Gang, according to the Associated Press. "This is not in the interest of Australia...
...Secrecy in China's criminal-justice system has made it difficult to find out the specifics of the charges against Rio Tinto employees. But China Daily, a state-run newspaper, reported yesterday that the multinational company's representatives allegedly bribed officials from 16 Chinese steel mills who were participating in negotiations over iron-ore prices. The story quoted an unnamed manager at a large steel company who said that Rio Tinto paid for industry data, which was "an unwritten industry practice." Rio Tinto officials denied its employees stole state secrets and said the company's ethics policies forbid bribery...