China has its Madoff case?

Xinhua reports a bribery and corporate spying case that has cost Chinese over $100 billion or $70 per citizen in six years. Stern Hu, Liu Caikui, Ge Minqiang and Wang Yong of Rio Tinto face criminal charges. Rio Tinto is British-Australian owned and conducts mining of iron ore in Australia for China.

Fees for iron mining increased from $3 billion to $50 billion a year in five years.(1)

The corruption while benefitting some in China and many in Australia appears to be another clear-cut case of delivering something for nothing to the West. The money is so much that MIM will not claim to know what really happened. Nonetheless, MIM hopes the case will result in Third World opposition to blind love of rich whites exploiting the Third World.

The case no doubt causes tension with Australia. However, Australia just signed a $40 billion natural gas deal with China.(2)

We have read several reports on this matter. We now speculate that Obama released the Uighurs at Gitmo to Bermuda in order to punish China for starting to raise this scandal of overpayment to the Australian labor aristocracy. The British made a pointed claim of not being involved, but then a Uighur leader in Amerika, Rebiya Kadeer suddenly appeared in Australia to make a speech.(3) In turn China, downgraded its political contact with Australia.

Another interpretation would be that hard-liners within China coordinated with the Uighur rebellion to crackdown on foreign trade run amok. MIM has no idea, so we do not commit our readers in any direction.

Regardless of the shrouded political and diplomatic truths, the case teaches people what to watch out for — corruption. Many are unable to grasp exploitation in the abstract, but they can understand that perhaps business goes awry with bribery and spies. We praise China for making self-criticism.(4)

Notes:
1. http://www.marketwatch.com/story/rio-tinto-employees-formally-charged-with-spying-2009-08-11
2. http://www.google.com/hostednews/ap/article/ALeqM5j41xWkJCeFdt_wgQ2dBO26PIDsHgD9A5TLFO1
3. http://www.google.com/hostednews/afp/article/ALeqM5it8r44QoTG5nDVedVIoURuyyV6kg
4.
See also, wsj.com
http://blogs.wsj.com/deals/2009/08/14/in-rio-tinto-bribery-case-china-says-the-enemy-is-us/

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