Posted on 08/09/2009 9:51:37 PM PDT by bruinbirdman
Mining giant Rio Tinto conducted industrial espionage in China’s steel industry over a six-year period, costing Chinese state more than $100bn (£60bn) in unnecessary overpayments, it was alleged on Sunday.
An article published on a website controlled by the Chinese State Secrets Bureau also claimed that large amounts of “intelligence and data” had been found on Rio ’s computers following the arrest of four Rio executives on spying charges last month.
The report on baomi.org, a publishing affiliate of China’s national secrets watchdog, accused Rio of “winning over and buying off, prying out intelligence... and gaining things by deceit” during critical annual negotiations over iron ore prices.
~snip~
“The large amount of intelligence and data from our country’s steel sector found on Rio Tinto’s computers and the massive damage to our national economic security and interests are plainly obvious,” he wrote.
Mr Jiang then calculates the financial loss to China of Rio’s alleged spying, although he gives no basis for his estimates.
“That means China gave the employer of those economic spies more than $100bn for free, which is about 10pc of Australia’s GDP,” he added. “It also caused the serious consequence of climbing losses in China’s pillar industry of steelmaking.”
He concludes that China, having concentrated on preserving Communist Party and military secrets, had overlooked industrial espionage facilitated by corrupt managers of China’s massive state-owned companies.
“In order to promote development, state-owned enterprises have given huge power to individuals over these years during the reforms,” he says.
“This has provided corruption opportunities for high-level managers to sell their country for their own interest. The Rio Tinto
(Excerpt) Read more at telegraph.co.uk ...
Ping
ping
These strongarm tactics, by the Chinese, are a great problem for the Australian government.
Rio Tinto = Rothschilds
yitbos
Rio Tinto is caught in one of those either-ore situations.
parsy, who thinks that was darn clever!
frkadus
The author should know better than attribute to the ChiComs naivete when it comes to business espionage.
That's about all they have been doing with their exchange students and overseas nationals.
yitbos
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