7.28.09
The Chinese just do things differently. Aside from the unrest you see on TV concerning portions of the Chinese population (Tibetans or Ughars) the government, through it’s partly or wholly owned corporations, continues to claim natural resources for itself in non-confrontational ways.
Recently, Zhonghui Mining Group announced a $3.6B investment in Zambia for copper mines and the Zambian government agreed to waive their import taxes, “value added tax and several other taxes’ to make the investment smoother for the Chinese firm:
According to this other article quoting the Chinese Ambassador to Zambia, Zhonghui Mining Group receives no government support from China. It may or may not be true but it doesn’t matter. Public or private Chinese firms are securing resources worldwide – but meanwhile back in the US, Krusty, Willie Whistle, Bozo, et al in Congress fight over preventing expansion of our resource capabilities (there I go again – can’t hide my distaste for our current political leadership – not that the former “bosses” thrilled me either).
Price inflation won’t just come from our printing money endlessly – it will come from our future need to import natural resources from other countries causing prices to rise farther since we won’t have supplies of our own.
Chris Grande
