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Gold/Mining/Energy : Canadian REITS, Trusts & Dividend Stocks -- Ignore unavailable to you. Want to Upgrade?

To: TobagoJack who wrote (7892)	10/17/2004 8:23:07 AM
From: jrhana	Read Replies (1) \| Respond to of 11633

Message 20601412 Message 20601872

To: TobagoJack who wrote (7892)	10/18/2004 1:50:54 AM
From: Taikun	Respond to of 11633

<Canada selling Noranda may serve as marketing budget for promoting Canadian wheat and airplane sales to China.> I fail to see why exporting Noranda's zinc to China, or India, as the highest bidder may be, is not in the best interests of Canada. Moreover, I fail to see why China would stop at importing Canadian wheat if they could own the wheatfields. Purchasing Noranda seems like a poor proxy for promotion of wheat. I think the main issue is that Minmetals has a state advantage-boatloads of cheap cash. A consortium of Canadian Chinese, who are not out to nationalize Noranda under China's flag (because that is what that is) and who do not have access to wads of state cash would, yes, be a better alternative. The Putin approach to national resources is the preferred approach: ie keep resources prioritized for domestic use first, let foreigners in under JVs at a maximum. Canada's manufacturing industry relies on Noranda output. China has not proven herself to be trustworthy enough on letting foreigners do business in and with China to warrant trust on a deal on Noranda where China promised to still give Canadian industry access to these materials. Ditto the tar sands. Japan has a JV in Syncrude and that is the appropriate level of partnership given China's less than developed capitalist system vis-a-vis Japan. China needs to build way more trust and that is what the uprising in the Canadian press, public and gov't is all about. Just because China has a huge need that does not set a precedent.