Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: elmatador who wrote (72080)	1/18/2010 2:06:58 AM
From: Snowshoe	Read Replies (1) of 74559

Speaking about rule of law, how is it that greedy Brazilians and Australians can collude to jack up the price of iron ore paid by the poor desperate Chinese? Why doesn't the WTO have a rule against this sort of thing?... Iron ore giants, China square off over pricing cbc.ca ... it's widely reported that the big three producers this year plan first to reach a deal with Japan and then present those terms to China as a done deal. "The deal gets presented to the Chinese as 'This is what the rest of the rest of the world is paying; now, take it or leave it'," said Letourneau. "The big three have that kind of pricing power because they control 70 to 80 per cent of the sea-borne iron ore trade, which is how China gets its iron ore, so it gets really nasty."

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