Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: TobagoJack who wrote (70183)	8/14/2008 7:27:53 PM
From: Snowshoe	Read Replies (1) of 74559

TJ, Every Olympics has its share of controversies: budget overruns, doping, revealing costumes, undignified poses, bad judging, etc. Overall, I think the Chinese Olympics are splendid and the air brushing at the opening ceremony is just an amusing footnote. ;<) But here is something of greater substance that should concern China. See the part in bold... DEALTALK-US coal assets attracting overseas buzz Message 24845402 Investment bankers say Indian firms are very active in the U.S. M&A market. India is short of coking coal and keen to aquire it wherever possible around the world. "You only have to look at the steel deals and see that the Indians have been quite acquisitive. The coal story is rather unique. They either want coking coal for steelmaking - and they have steelmaking facilities in the US and they're looking for coking coal to feed those plants - or thermal coal, which is a difficult market." Indian companies such as Vedanta, Essar and Tata Steel have already made M&A inroads into the United States. One Asian investment banker said the Indians were taking advantage of Beijing's timidity about U.S. acquisitions following the failure by Chinese oil firm CNOOC to take over Unocal in 2005. While Communist China had got hung up on political worries, buyers from democratic India had no such problems. "It's an interesting twist on the great emerging superpower rivalry that everyone's enjoying watching," he said.

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