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๐ฅ Why China Jailed 4 Rio Tinto Employees (00:21:46)
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In a world where corporate secrets collide with international intrigue, the trailer for “Why China Jailed 4 Rio Tinto Employees” sends chills down your spine. What could possibly lead to the imprisonment of high-profile executives? The question lingers, pulling you deeper into a narrative teeming with tension and complexity.
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Among the trailer’s heart-pounding sequences, you’re drawn into a high-stakes boardroom confrontation and a covert meeting that hints at betrayal. Tantalizing glimpses of documents and hidden conversations promise a whirlwind of revelations. Each moment is a puzzle piece that raises more questions than it answers, igniting your curiosity to unravel the story.
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Rio Tinto went back on its word in a tense situation and ended up paying the price. In the early 2000s, China began a magnificent economic growth trend at a scale unlike anything before seen in this world.
That growth, however, found itself dependent on a single valuable commodity. China, the world’s biggest maker of things as varied as cabbages to door knobs, does not have enough good iron ore. But Australia did, and so was born a very rich relationship.
But as iron ore prices exploded upwards, tensions erupted between China and the big mining companies. And that led to a monumentally bad situation for everyone involved.
In this video, we are going to explore the tensions that would eventually lead to the Sino-Australian kerfuffle known as the Stern Hu affair.
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Thanks for watching. I know this is a sensitive subject. Please be civil and comment thoughtfully.
Check out other Asianometry videos on China's economy here: https://www.youtube.com/playlist?list=PLKtxx9TnH76T_4R7Lxs8QoDr64zlvt8SS
Rio always has a scape goat, dont you worry about that. They would have to be the worst backstabbing company I have ever worked for!!!
How about a video on West huge loss by Huawei, SMIC inovations & breakthroughs in advance 7 nm chip? TSMC, Apple, Foxcon, Jap, Samsung, Qualcomm,
How a video on Endia privacy & extortion Chinese companies like Foxcon, wirstrom, Xiaomi, ?
I wonder who owns more of Australian mines Japan, China or US?
Wow! Not much sympathy here for the 4 Rio Tinto Emploees! In fact, despite them being featured in the title, they were practically a side note in the story. And even worse, those in the comments that do empathize with them, blame Rio Tinto for their predicament – not the Chinese Communists who locked them up in prison for years to punish Rio Tinto for rejecting their deal. It is as though the Chinese Communist government were a wild beast and not expected to operate according to normal human ethics and morality and therefore must not be criticized.
A major factor in the price changes in 2013 – 2020 was the fact that an awful lot of additional capacity came on line over that period.
Rio Tinto's production jumped from around 140M tons to 360M tons in 2019.
That extra production cost over $13 billion and required the building of a new wharf and processing facility at Cape Lambert. New Mines and double tracking of significant portions of their rail network (Some 1500 or so km in total).
That didn't come on line till late 2016? and then of course the plant had to ramp up. So by 2019 to start producing at capacity which about the time the price started to slide.
Globally alot of capacity came on line over that period. As they say, "The cure for high prices is high prices".
5:55 China steel isn't an odd name, as 'Taiwan' is the Republic of China. That's why 'Taiwan' also has China Airlines as their flagship carrier.
What is the problem with the world? The problem is raw materials are scattered all over the world that everyone needs. And it could work with agreements. But factor in greed and cheating and you have a mess. Nobody cares for the other companies around the world that have people that need to make a living. The only way this is going to work is if there is a price agreed upon by all nations and a worldwide law against greed. If someone in the world goes against the price agreed upon, the world needs to demand that person be in prison because he violated the greed law.
As an Australian and RIO share holder, I applauded the rejection of the Chinalco "deal", UK share holders were absolutely right to reject the deal. I am a long time share holder, my first shares were purchased Sept 13 2001 for $13 AU, 5 days later the shares were $29, since then I have consistently bought and sold RIO shares and options.
I loved the kangaroo logo mimicking the deer logo. One of the most famous examples of convergent evolution. Thank you for that explanation. Brilliant. I really could not understand what was happening at the time except that I learned to hate Rio and the CCP as vicious and corrupt players – neither of whom should be allowed to have any control in Australia. A good assessment as time as both their actions has since proved.
This article, which I am only focusing on the expelling/incarceration on "the four" individuals, concerns an event that, it's Nexus" occured 26 years ago! I read several articles from various sources. However, most of them were from "The Wall Street Journal!
True this story is over 7 (seven) years old.
But. There is a good "Case Study" out of it is anyone should care.
I think independent Colonialism notions and movements in a unique dichotomy caused business practices to become detailed.
Also. I think if two entities are going to get together, for whatever reason, independent movements need to be exchanged.
Old established "ways" and a rather .methodological practice…to learn and devil and inclusive grow, must take that uniqueness of steps by steps…in a natural togetherness…at least let others know what is going on.
It turned into a mess. An unavoidable mess.
My premise and antecedent method are incredibly formal and I have not changed my pattern of outlooik and observational opinions in 50 years!
Nice Video. Rio, are Just sails,, anyway the wind blows, Shaft Everyone! Paying to blow up caves that didn't contain a bottle Shop! Just how smart is That? WTF.
So this, like so many other things in life, is one group of ruthless unscrupulous dirtbags vs another group of ruthless unscrupulous dirtbags. For a truly neutral party, it would be difficult to distinguish between.
Apparently the solution to evil capitalism is evil communism.
China accused Australia of racism for colluding with Japan.
Does that mean Japan is also racist against Asians?
Rio tinto wanted to open a lithium mine here in serbia, thankfully protesters swayed the gov into not sealing the deal
never do business with a dictatorial country.
Commies are commies
Like beyond too much, over and over?
Omg this makes me sick…. The whole thing… Like for real it was always too much but what is the definition beyond that?
Watch Kevin A. Here on YouTube.
Well researched, insightful and balanced.
Commodities are traditionally opaque, shady and mix business with power politics.
Excellent work navigating the subject and highlight the basics while not avoiding the controversial issues.
Well done.
All this dishing on Rio Tinto meanwhile all of you are driving cars, riding elevators, bridges, living/working in skyscrapers, sewage systems, water pipes and storage made from Rio Tinto iron/copper/bauxite. Good on you for taking the high road, ill take my dividends thank you very much.
When Caesar said "apes together strong" that was my least favourite episode of HBO's Rome
Vale reads as "Vah as in "vast" and "le" as in lemon.
The CCP totalitarians didn't get the Australian strategic resources what they wanted, so they spat the dummy and arrested the messenger Stern Hu (an Australian citizen) on trumped-up charges. That was the beginning of the rot between the Australian government, large strategic resource Australian (UK) corporations (such as Rio Tinto), and the CCP. In 2020, in response to a question about investigating the origin of the Covid outbreak by then PM Morrison, the CCP acted like 12 year old spoiled bullies and threw back multi-sector Australian export sectors to China by high tarrifs and bans (Australian iron ore exports was not touched by this, the China economy needs it too much), but this eggregious bureaucratic act only had mild medium-term effect on most of the targeted commodities (as most commodities were sold to more rational countries, and generally they were good quality products), but a severe effect on the small but quality Tasmanian rock lobster industry ensued. Incidentally, the Australian coal ban action was poorly planned in China because blackouts occurred across Northern China in the winter of 2020-21, as China power stations could not make up the shortfall due to a sudden loss of Australian thermal coal stocks. To summarize, CCP China is a predatory ideological power with fiat ideas of trade, and rudimentary understanding of market economy. It's internal fiat political decision making and 180 degree reversals on trade deals make it difficult to deal with. The Taiwanese have discovered this as well. If they can't play the trade game like grown ups, as a French Queen (Marie Antoinette) once allegedly remarked; "let them eat cake".
Incredible story
โRio Tinto: Second Rate in Everything we do!โ
Rio tinto have been corrupt for decades. Glad those employers were jailed. ASIO has assetts inside all major mining companies.
Rio Tinto as a whole needs to be arrested. They tanked an entire country FFS (PNG).
Who is who? Who is Hu? Hu is who? Or Hu is Hu?
Guess what, china is biggest polluter and human rights abuser in not the 20th century but in. 2022 and getting worse, bring that up with the Rio sins or compare them pls!
"…I will try not to offend…apes together strong…" lol
It's so weird to see photos of rolling mills and to realize they are like the same. If you haven't seen them they are like transformers for maintenance and modification of billet dimensions. I rebuild gearboxes for steel mills and recently for the first time did inspections on the line. And man it's wild. And HOT even when nothings been used for 6 hours.
Is that why Chi-coms released covid on the world?
Taipei or Taiwan?
At the end of the 1880s, control of the firm passed to the Rothschild family, who increased the scale of its mining operations.
After the ancient Aboriginal rock paintings were literally detonated, there was a huge public backlash against Rio Tinto and I believe their management has been forced to move from London to Australia. It really humiliated them, and they completely deserved it.
Rio backs out of a commercially unsound deal and then the Chinese frame up 4 dudes for it. Then Rio throws them under the bus and it's all business as usual after 2 years.
its called hostage diplomacy
The cure for higher prices is higher prices to attract new players to increase supply causing decrease in demand, thereby lowering prices, regardless of the product or service in every free market . the problem with taking a company public is that it becomes a conflict of interests between short-term and long-term goals.
Funny how the conniving CCP failed to build their own mining companies and attempted to steal the mining companies as they steal intellectual property that set up shop in China. Reminds me of 1930's Japan trying to buy foreign resources to build their economy/country and when unable they invaded country-rich resources to satisfy the demand.
Letโs go brandon
damn the chinese get butthurt about ANYTHING
RIO TINTO MARS IZ SRBIJE
RIO TINTO MARS IZ SRBIJE
RIO TINTO MARS IZ SRBIJE