Word: ironization
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Dates: during 2000-2009
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...forests to grassy plains and sleepy seaside villages. With the right resources, there could be a thriving adventure tourism scene here that could send some much-needed money towards the general public. Yet, as long as dictatorial president Teodoro Obiang Mbasogo Nguema continues to rule with an oil-soaked iron fist, Equatorial Guinea might as well hang up a giant sign at the airport that says “Go Away...
...reporters yesterday, Rudd issued his toughest comments yet in the case of Stern Hu, a Chinese-born Australian executive with mining giant Rio Tinto. Last week the Shanghai State Security Bureau arrested Hu and three Chinese colleagues on suspicion of industrial spying and stealing state secrets related to iron-ore prices. The arrests came amid acrimonious ore-price negotiations between Chinese steelmakers and global mining companies. (See pictures of Chinese investment in Africa...
...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...
...developments this week suggest the Rio Tinto case may be just a part of a crackdown on corruption launched by Chinese authorities in one of the country's most important industries. Domestic media reported this week that at least five Chinese steelmakers and the China Iron and Steel Association are under investigation, and the scope of the inquiry is expected to widen. A senior investment banker with close ties to the Australian mining industry says that eight to 10 Chinese steel executives have been detained, adding that the relationship between Australian ore producers and the Chinese steel industry...
...long run. We have good friends that come to our aid in the short term, but they'll move on. Only the private sector is sustainable. There was a time when we were an exporter of coffee, cocoa, rubber and palm oil; in minerals diamonds, gold and iron ore. Our task now is to reactivate all of those sectors [while looking at] new areas [like] our offshore oil potential...