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Rio Tinto executive held in China

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Macquack said:
Apart from any human rights violations by the Chinese, why should we be concerned for Stern Hu as an "Australian". The guy is a blow in.

Mr Hu (Hu Sh@tai) was born in China, lives in Shanghai, has spent less than 8 months in Australia, works for a multi-national company and has never worked a day in Australia.

Hu somehow became an Australian citizen but conveniently remained a Chinese Citizen. I understand if the Chinese government take a dim view of this action.

I applaud the Chinese for their intolerance of "bribery and corruption", while in the West it is considered an acceptable and standard tool of the trade.

I say, Stern your on your own, buddy.
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I'm going out on a limb here .. Maybe, just maybe that Hu is a double agent? Working both sides perhaps? Chinese got tired of being the bridesmaid?
Hu got caught feeding his masters (Rio) some classified info? Capitalism at it's best, no? The media does not know what to make of this one !!!!!!
 
Also, China got a very good price for our gas - it would be interesting if that were being onsold.
 
Then there's the question of what happens when someone has dual nationality.
I mean, if it's an advantage, then the safest thing to do would be to have 15 passports, and then they'd all hopefully help bail you out of a crisis.
Or conversely, if it's a disadvantage, so that each country (China in this case) was tougher on it's citizens than on visitors, then better to be a visitor, and not to have a local passport.

As MacQuack asked elsewhere ( Rudd confidence thread), Is this bloke's chance of justice weakened because he also has Chinese nationality?

Better to have one master maybe? - Just a thought.

PS (like the missus maybe?)

Trainspotter - as for demand decreasing due to this incident, hopefully any blip in the orders will be shortterm - (this too shall pass sorta thing) .
Certainly FMG seem to be happy enough.
Certainly also a sense of dealing with China with caution ..
Meanwhile, Cape Lambert Iron Ore is one company exercising a more cautious approach to its negotiations with China, Mr Sage said.

"They haven't pulled back in wanting to do deals with us.

"However, from our point of view, we're going to be very careful in what we say and what we do and how we conduct our business with them."
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To me this looks like a RIO Tinto matter as it was their bad management that over-reached the company so they needed to go cap in hand to China to bail them out in the first place. China must have thought matters were a done deal and then RIO about turned as markets improved and said, piss off China your money is not good enough for us.
China must have got the hump big time over this and would not want it to be seen that RIO had snuffed the mega-giant of China.

China are the buyers in the market for iron ore in a buyers market. It is now for RIO to eat humble pie and apologize to China and make the peace, again.
 
Why is this Hu detention become such a big deal? There is 91 Australians currently been detained in Dubai. Many have not been charged and are allowed little consular access.

Why hasn't the opposition raised this matter?
 
trainspotter said:
Sorry vincent191. The topic on the tips of the lips is Hu, China, Rio Tinto, Ruddy, U.N. membership, Corruption and graft, amongst other things. Not Dubai.

Stern Hu forgotten in Kevin Rudd's hopeless UN quest

http://www.theaustralian.news.com.au/story/0,,25805431-7583,00.html?from=public_rss Glenn Milne at his finest and some pretty good responses as well. Worth a read.
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Have to disagree with you again, Trainspotter.

Another piss weak story of tripe by Glenn Malign.

First thing I noticed was the story had jack all to do with Stern Who, so why label it "Stern Hu forgotten in Kevin Rudd's hopeless UN quest"?

Glenn Milnes is "at his finest" after three gin and tonics followed by a chaser of Codral Cold & Flu. Just wish Stephen Mayne had taken that opportunity to knock some sense into the old drunk.
 
Gee, thanks Macquack ! If you read the rest of my post you would also see this: "and some pretty good responses as well." Some of the responses on the page I listed were worthy of a rederob and Macquack retort. Inciteful, opinionated, tactful and always truthful. Controversy sells newspapers.
 
How many major Chinese executives are arrestable for their activities in Australia?

Maybe they are encouraging Aussie based boards to take their production off-shore?

Arrest them immediately! :D
 
I say we arrest someone of equal calibre on some trumped-up dog****.

Why the heck not?

Tit-for-tat sounds like the cold war to me.

Why not the resource war?

You want our stuff? Ship it from Brazil for double the haulage otherwise don't play games. And develop slower on the back of no human rights or environmental sustainability standards. JUST ROLL OVER AUSSIES!

Disclaimer: Sorry if I have offended any ASF members who happen to be shareholders in companies exposed to the China "boom". ;)
 
trainspotter said:
Sorry vincent191. The topic on the tips of the lips is Hu, China, Rio Tinto, Ruddy, U.N. membership, Corruption and graft, amongst other things. Not Dubai.

Stern Hu forgotten in Kevin Rudd's hopeless UN quest

http://www.theaustralian.news.com.au/story/0,,25805431-7583,00.html?from=public_rss Glenn Milne at his finest and some pretty good responses as well. Worth a read.
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Stern Hu forgotten ? probably not
Interpretation of Rudd's UN quest ? probably inaccurate - and certainly not his personal quest
headlines deserving of Font #7 ( don't come no bigger) - probably not. :2twocents
 
Meanwhile (when Milne sits down, and Metherill stands up) ...
an article worth reading ...

http://www.abc.net.au/news/stories/2009/07/20/2631388.htm?section=justin
Garnaut calls for rethink of iron ore negotiations
By Lexi Metherell

The detention of Rio Tinto executive Stern Hu has dominated what observers say have been the most bitter negotiations in years between iron ore miners and their Chinese customers.

Now Professor Ross Garnaut says the system itself must change.

The top economist and former Australian ambassador to China says there is too much emphasis on the annual talks and the market needs to take a bigger role.

Professor Garnaut would not comment directly on the case of Mr Hu and his colleagues in China.

But he is prepared to discuss the system of iron ore talks they were involved in when they were detained.

Speaking after a Melbourne Institute forum today, Professor Garnaut has suggested that the issues that have plagued this year's talks will forever change the system of iron ore negotiations.

"Humpty Dumpty's fallen off a wall and it's going to take a lot and maybe more than we can muster, to put it back together again," he said.

The annual talks between miners and their major customers in Asia usually start at the beginning of the year and set the contract price of iron ore for the year from around April.

The talks are normally concluded by the end of June.

But commodities economist at the National Australia Bank, Ben Westmore, says this year has been different.

"Usually the way the format runs is that the Australian miners, BHP or Rio or Vale, which is the big Brazilian iron ore miner, will agree with Bau Steel, which is a big state-owned mill and then all the other mills will just fall into line with the benchmark," he said.

"This year however, the Chinese Iron and Steel association, which is sort of an industry body has decided to conduct negotiations on behalf of all the steel mills, so the format's changed somewhat."

Mr Westmore says the China Iron and Steel Association has refused to accept the price that has been agreed on by Japanese steelmakers and iron ore miners.....

"The current spot market's not a particularly efficient market and we need better markets, including better forward markets," he said.

"So it's worth people - at the Chinese and Australian end and all other people involved in the resources trade - putting a lot of thought into the development of those markets.

"Maybe the end point will be the development of a more efficient set of spot and forward markets based in Shanghai as the main single centre of the north east Asian resources trade
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PS - This is what Garnaut thinks of the clumsy discussions in the Aus media (typically quoting the Opposition who were stuck on full volume at minute 1) concerning Stern Hu and his colleagues to date (and whether it has helped their cause ) ...

LEXI METHERELL: Professor Ross Garnaut won't comment directly on the case of detained Rio Tinto iron ore executive Stern Hu and his colleagues in China.

ROSS GARNAUT: More has already been said then [than] is in their interest.

LEXI METHERELL: But he is prepared to discuss the system of iron ore talks they were involved in, when they were detained. etc
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http://www.abc.net.au/pm/content/2008/s2631221.htm
 
Thanks 2020 for the font jibe. In another forum there is a guy called Little Lord Font Leroy. I was aspiring to his lofty standards. It had the desired effect. I am sure of this.

When negotiations head South it is usually customary to take a hostage. Greater bargaining power etc. etc. This tactic has been around for centuries. The media (both sides) can print their opinions and we will hang off every word. China has an abhorrent record on human rights. Why change now?
 
Yep it's a delicate juggling act arright.
One the one hand they are the reason we are as wealthy as we are - and also why we might just crawl through without going into recession. On the other, they sure aren't perfect on the human right's stuff.

Personally I think Rudd and Co are doing a pretty good job walking the tightrope.
Not sure than Milne could do better for instance.
cheers :cool:
 

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