Chinalco
CHINA is a huge country. Its landmass is 25 per cent bigger than Australia, its economy is 10 times larger, it has 60 times as many people and, I am led to be believe, significantly more BBQ duck restaurants.
Thankfully, Australia is still ahead in a few areas. We have more stars on our flag, we have won more cricket World Cups and, as developments in the past few weeks prove, we trounce the Chinese in corporate haggling.
Increasingly, Australian business is going to rub up against China. The People’s Republic is our No2 trading partner but is likely to regain the No1 slot from Japan this year or next. And Beijing’s “go global’’ directive, or zou chu qu, means China’s state-owned firms will continue to eye opportunities to join with, or buy outright, Australian companies.
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