Posted on 02/10/2010 5:30:39 AM PST by TigerLikesRooster
February 10, 2010
China charges Rio Tinto four with bribery
Jane Macartney, Bejing
China has charged four Rio Tinto executives with bribery and violating commercial secrets, leaving the workers facing years in a Shanghai jail.
Shanghai Municipal Intermediate People’s Court announced today that it had accepted the charges against Australian Stern Hu and his three Chinese colleagues after a six-month inquiry.
It is now certain that the four will face trial and are likely to be convicted. Under the commercial secrets charge, courts can jail people for up to three years, or up to seven years in “especially serious” cases.
The prosecutor’s office indicated that police had come up with sufficient evidence to proceed with charges of bribery and possession of commercial secrets.
It said: “The accused four, including Stern Hu, exploited their positions to seek gain for others, and numerous times either sought or illegally accepted massive bribes from a number of Chinese steel firms.”
The prosecutor’s office said that Chinese companies had been the victims.
"Many times they used personal inducements and other improper means to obtain commercial secrets from Chinese steel firms, causing serious consequences for the steel firms concerned,” it said.
(Excerpt) Read more at business.timesonline.co.uk ...
P!
Doing business in China!
You have got. To. Be. Kidding.
This is satire, right?... It has to be.
All I have to say is Australia needs to keep the ChiComs from buying into any of its coal mining and other natural resource companies. Keep them out! Or you will regret it!
They do not realize that Chicom can play this game better. Australian corporation may think in purely business terms, but Chinese would think in both economic and geopolitical terms.
Their only hope is that China collapses before they get to fully implement their plan.
The ChiComs can bribe and threaten their way to dominance in any Australian resource company that is foolish enough to allow them as little as 15% ownership
The Chinese are poor, developing and ravenous for certain commodities. Particularly Australian coal which is cheaper to transport from Australian port to a Chinese port than transport from interior China to coastal China where the industrial development is. They are like a thirsty man in a desert. In contrast the Australians are too fat comfortable and happy with themselves
Plus the Middle Kingdom Chinese have a racial disdain for soft white people. This also motivates them to take what they can get with no remorse
I read somewhere that: China already is Washington’s biggest foreign creditor, with an estimated $1 trillion in U.S. government debt.
Is that true? Can you shed more light?
p.s. - sidenote:
I’ve always been intrigued by chinese astrology, tiger, rooster, monkey, snake, ox, horse ... dragon is my fav. ;-)
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