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Chinalco, China's huge metals company, recently spent $19.5 billion buying into global mining giant Rio Tinto (RTP). Rio needed the money to decrease its debt. There is speculation that China wanted to secure access to minerals. To that extent, the investment was a "strategic" one on China's part. The Australian government considered blocking the deal but did not. Perhaps debt-laden Rio made the case that it needed the money too much to help it through the economic downturn. (See pictures of China's electronic waste village...
...move that may be even more important to the long-term interests of the mainland, the China Development Bank agreed to loan Brazil's oil giant Petrobras (PBR) $10 billion for exploration projects. The South American oil company also apparently agreed to sell China-controlled oil company Sinopec (SNP) crude supplies for the balance of the year. It does not take detective work to come to the conclusion that the two arrangements were related. In late 2007, Petrobras said it had discovered new fields far off its coast that contain as much as 8 billion barrels...
...triggers a 60-day public-comment period before any proposed regulations could be announced, and most observers expect it would take months, if not years, for the EPA to produce rules that could control the 7.3 billion metric tons of CO2 the U.S. produces, from sources that range from giant power plants to planes and cars. The initial regulations would likely center on emissions from motor vehicles - the cause behind the 2007 Supreme Court case that originally spurred the endangerment finding. (In the case, Massachusetts v. EPA, the court found that the EPA had a responsibility to regulate carbon from...
Nowhere is this bilateral relationship more apparent than in Tijuana, the busiest border crossing on the planet. A giant launching pad for migrants, center for U.S.-owned assembly plants and strategic front in the drug trade, the city of 1.6 million has long enjoyed the best and worst of living next door to the U.S. colossus. However, that relationship has soured in recent months with news of a bloody cartel turf war that has scared many Americans away from even stepping foot in Tijuana. (See pictures of Mexico's war on drugs...
...Earlier this month, a dissident Buddhist monk, Thich Quang Do, said that strip mining will destroy the way of life of the region's ethnic minorities. He added that the project created "an illustration of Vietnam's dependence on China." There has been no such outcry against U.S. aluminum giant Alcoa's plans to mine two sites in Dak Nong province in the Central Highlands...