“I believe that China is a disaster. I believe that China will bring Australia down.
Awesome! From the AFR comes the always colourful Cliffs chairman and chief executive, Lourenco Goncalves:
…miners were supplying China “to become an enemy”.
“I hope the Australians will continue to question themselves why one or two companies are giving their finite resource away to the Chinese while the Chinese builds into a military powerhouse in the South China Sea,” he said in a conference call with analysts on Friday.
“Australia is a member of the TPP (Trans Pacific Partnership), so it is a friend, at the same time that they supply China to become an enemy. So (they’ve) got to pick a side.
“I think that Australia will only believe China is destroying Australia when they build an artificial island on the Great Barrier Reef that they can see from the shore . So it is a matter of a myopic approach to world geopolitics and economics.”
Mr Goncalves has 11-12 million tonnes of WA iron ore that is also being shipped to China to “build the enemy” but is seeing its profitability destroyed.
Now that’s how you seek rents!
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