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Economy:
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Hu and Obama – Following the Poor Example of History
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It would be a shame for the world's two greatest powers to follow the poor example of Emperor Qianlong and Lord Macartney and miss the advantages of cooperation and mutual benefit.
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November 22nd,2009
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Energy:
PetroChina, oil sands
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PetroChina Oil Sands Deal Highlights US Insecurities
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On August 31, state-owned oil behemoth PetroChina announced a deal to acquire a 60% share in the MacKay River and Dover oil sands projects from Athabasca Oil Sands Corp. for C$1.9 billion ($1.7 billion). The deal, China's largest investment to date in Alberta's oil sands, encompasses 5 billion barrels of undeveloped bitumen reserves and will require C$15 billion to C$20 billion to develop.
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September 7th,2009
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M&A:
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Geely's Lonely Bid for Volvo
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Whatever the risks to Geely, the Chinese car maker is on course to owning one of the world's most famous automotive brands. It only remains to be seen what Geely will make of it.
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August 31st,2009
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M&A:
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Yanzhou's Friendly Takeover of Felix
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The friendliness of the transaction stands in marked contrast with the ongoing diplomatic tensions between China and Australia over four detained Rio Tinto employees.
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August 17th,2009
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Commodities:
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China Casts Resource-Hungry Eye on Nickel Mines
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Jinchuan Mining revealed plans to take a 51% interest in Zambia's Munali mine, while Jilin Jien Nickel Industry said that it had purchased a 14.7% stake in Canada's Victory Nickel.
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August 10th,2009
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Money & Investing:
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CIC Swims Against the Tide
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CIC's move is surprising because it stands in stark contrast to the actions of other sovereign wealth funds, and to those of other Chinese firms making investments abroad.
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August 2nd,2009
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Commodities:
iron ore negotiation,CISA,china's stell
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A Looming Panic for Iron Ore by China's Steelmakers
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In what can only be seen as a tragedy for China's steel producers, the China Iron & Steel Association's (CISA) comedy of errors culminated on June 30 with the passing of the traditional June 30 deadline for reaching agreement on iron ore benchmark pricing. In the absence of a deal, Chinese steelmakers must now look to the volatile spot market for their supplies.
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July 8th,2009
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M&A:
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CIC on Teck: the Commodities Buying Spree Continues
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Many industry-watchers have compared the Chinalco-Rio break up to China National Offshore Oil Company's unsuccessful play for Unocal in 2005, which cooled the pace of Chinese overseas acquisitions for several years. This time around, no such slowdown has occurred.
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July 6th,2009
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M&A:
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Rocky Road for Tenzhong-Hummer Deal
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National Development and Reform Commission (NDRC) is likely to block the merger on the grounds that Tenzhong, a manufacturer of special-purpose construction machinery and infrastructure products, lacks the expertise to run Hummer. The NDRC is also unhappy about the poor fuel economy and high environmental impact of Hummer's gas-guzzling SUVs.
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June 29th,2009
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Commodities:
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Shanxi's Defection Highlights CISA's Ineffectiveness
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With less than two weeks to go before the end of long-term contract negotiations, China's steel producers have begun seeking individual deals with the Australian and Brazilian mines.
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June 23rd,2009
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M&A:
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China's Global Buying Spree - Risky Business
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With so many high-profile deals on the table, many in both China and the West have questioned whether China has the marketing and management talent to make these acquisitions work. China's record on this topic is mixed.
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June 19th,2009
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M&A:
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More Shots Fired in Chinalco-Rio Spat
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In a surprise move, China's Ministry of Commerce announced that it has regulatory authority over the proposed iron ore joint venture between Australian miners Rio Tinto and BHP Billiton.
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June 13rd,2009
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M&A:
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Minmetals Buys OZ
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China's official news agency Xinhua, however, has been unrestrained in its criticism of Rio, labeling it "perfidious" and likening its actions to those of a "cheating" spouse.
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June 12nd,2009
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M&A:
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Chinalco Drops the (Iron) Ball
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Now, the great saga of China's effort to prevent an "conspiracy" of iron ore miners is virtually over.
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June 6th,2009
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M&A:
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Tengzhong Buys American Car Icon Hummer
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Despite its connection to military vehicle maker A.M. General, which supplies Humvees to the US armed forces, it does not appear likely that the sale will face opposition from the Committee for Foreign Investment in the US, which has jurisdiction over the sale of strategic US assets to foreign investors.
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June 3rd,2009
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