The Rising Influence of Rising Affluence

[oldberkeley]

I didn’t think anyone would outbid VALE for this company, but the Chinese hate to lose!

When Canada's Barrick Gold and China's Minmetals Resources were battling over Equinox Minerals, one of Barrick's institutional holders said something about not getting into a bidding war with them because they'll pay almost anything to make a political statement.

I couldn't agree more, and to me that says it all.