Author: cestmoi

Chinalco-Rio Tinto Post Mortem [Copy link] 中文

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Post time 2010-3-27 14:34:10 |Display all floors
Originally posted by emucentral at 2010-3-27 07:36



  1. You are joking.

  2. This seems to be more about the internal power play in the CCP than what Rio was up to.
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I'm not joking at all.

  1. It does, however, seem that the local Chinese employees of Rio were not able to come up to the standards demanded of western corporate practice, and continued to engage in bribery.
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This is a severe accusation and I'm sure you're unable to back it with facts. It's a very VERY racist and biased opinion.

  1. Although it does seem strange that while they were initially accused of "stealing state secrets" and commercial secrets, one would have thought that they would be the ones doing the bribing, paying money to Chinese steel buyers and officials. Now it seems that they were bribed by corrupt Chinese officials.
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Again an acuusation without proof.

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Post time 2010-3-28 18:05:08 |Display all floors
Originally posted by cestmoi at 2010-3-27 10:32
Of course if it is used to constrain China's growth and limit China's potential, then it is obviously acceptable to white Australia....


So how does BHP/Rio/Vale set out to "limit China's potential" by selling them shyteloads of iron ore and other minerals which drive China's manufacturing capabilities ?

Originally posted by cestmoi at 2010-3-27 10:32
Okay, listen up, BHP Billiton Rio Tinto, the regional monopoly and a global duopoly, has proven itself incapable of managing its staff and sales operations in China.  


And China, with its monopoly buyers in CISA are clearly unable to manage its staff and buyers who now appear to be both offering and receiving bribes.
"他不是救星, 他是一个非常淘气男孩" - Monty Python

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Post time 2010-3-28 18:21:41 |Display all floors
Originally posted by satsu_jin at 2010-3-27 16:34
[quote]Emucentral
It does, however, seem that the local Chinese employees of Rio were not able to come up to the standards demanded of western corporate practice, and continued to engage in bribery.

This is a severe accusation and I'm sure you're unable to back it with facts. It's a very VERY racist and biased opinion. [/quote]
Ahh, there were three local employees and they were all Chinese, not a gweilo amongst them.
They were charged with receiving bribes and industrial secrets.
Corporate laws in Australia outlaw bribery.
Statements of facts, no racism whatsoever.


Originally posted by satsu_jin at 2010-3-27 16:34
[quote]Emucentral
Although it does seem strange that while they were initially accused of "stealing state secrets" and commercial secrets, one would have thought that they would be the ones doing the bribing, paying money to Chinese steel buyers and officials. Now it seems that they were bribed by corrupt Chinese officials.

Again an acuusation without proof. [/quote]

Yes, it is an accusation (made by China) without proof presented to the public (it was a mostly closed trial).
There appears to be some contradiction in the accusations. They were charged with receiving both secrets and bribes. So they were paid to accept trade secrets ???

However, again I have quoted "facts" as reported.
"他不是救星, 他是一个非常淘气男孩" - Monty Python

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Post time 2010-3-28 21:06:27 |Display all floors
Originally posted by emucentral at 2010-3-28 19:21

[quote]This is a severe accusation and I'm sure you're unable to back it with facts. It's a very VERY racist and biased opinion.

Ahh, there were three local employees and they were all Chinese ... [/quote]


Neither you nor I do know the facts. Why do you come to hasty conclusions? Don't forget that Australian diplomats were present on day one of the trial. I trust they know more than the two of us.

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Post time 2010-3-29 04:58:58 |Display all floors

Australian executive taking bribes

One wonders how BHP Billiton Rio Tinto, a big regional monopoly and a global duopoly, vets and appoints its executives.

Reminiscent of the hay days of British East India Company in its global ambition and empire-building mentality, it does not believe ethics apply to its executives and in its dealing with others. Ethics is only a weapon to use on others, not on itself.

How else does one reconcile the fact that its most senior executive on the ground in China has taken a bribe and how else does one explain away the admission that another manager has set up an under-the-table deal with BHP Billiton Rio Tinto's Robe River operations with his own company and money in Hong Kong?

Its like running two books, one for public consumption and the tax office and the other to be carried inside one's pocket and never see the light of day.

CISA must look into the Wang-Du deal with BHP Billiton Rio Tinto.

But than again, if one is the size of BHP Billiton Rio Tinto, one can throw one's weight around, until the proverbial excretia hits the fan.

If and when sentenced to jail time,I suggest China let Stern Hu, an Australian citizen, serve out the rest of his sentence in Australia. Let's see whether the Australian government has the moral fibre to deal with an BHP Billiton Rio Tinto senior executive.  

White Australia has been beating the drum about how unfair China has been in dealing with BHP Rio's Stern Hu. We will have an opportunity to see how white Australia deals with him.

How the company and the government deal with Stern Hu once he is home will speak volume.

[ Last edited by cestmoi at 2010-3-29 05:00 AM ]
Let the dice fly high

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Post time 2010-3-29 15:39:47 |Display all floors
Agencies just reported that Stern Hu was sentenced to ten years imprisonment and the other three accused were sentenced between seven and fourteen years.

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Post time 2010-3-29 16:03:58 |Display all floors
Originally posted by satsu_jin at 2010-3-29 17:39
Agencies just reported that Stern Hu was sentenced to ten years imprisonment and the other three accused were sentenced between seven and fourteen years.

What will be interesting is to see the sentence for the Chinese steel executive (employed by a State Owned Enterprise ?) who was instrumental in these charges being filed.

Of course nobody would suggest that a government employee would instigate such an affair to "get even" with Rio for the failed merger.
"他不是救星, 他是一个非常淘气男孩" - Monty Python

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