Word: mininger
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No, not Americans. Chinese. As part of an aggressive effort to expand its commercial and political influence in Southeast Asia, China is investing heavily in Vietnam. Chinese companies are now involved in myriad road projects, mining operations and power plants. Yet, despite the fact that cooperation between the two communist...
The latest lightning rod for anti-Chinese sentiment is Hanoi's plan to allow subsidiaries of the Aluminum Corporation of China (Chinalco) to mine bauxite ore in Vietnam's Central Highlands. Bauxite is a key ingredient in aluminum, which China needs to fuel its construction industry. Vietnam has an estimated...
But the real opposition appears to have less to do with the environment and more to do with Vietnam's fear of its neighbor on the country's northern border. Nationalist groups accuse Hanoi of caving in to pressure from commodities-hungry China by allowing the mining project to go...
Once shy of making major foreign investments, Beijing has gone on the prowl for resources and underpriced assets across the globe. Cash-rich Chinese companies, backed by soft loans from state banks and re-energized by lower labor costs as jobs dry up, are descending on Central Asia, Africa and...
Even so, not every shareholder is thrilled at the prospect of selling to the Chinese. Chinalco is a huge consumer of iron ore, and 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...