List of Tables | p. ix |
List of Figures | p. x |
Foreword | p. xi |
Acknowledgements | p. xiv |
Introduction | p. 1 |
Australia and its minerals industry | p. 4 |
The trade relations between Australia and China | p. 5 |
Chinese investment in the Australian mining industries | p. 10 |
Book structure | p. 12 |
An Overview of China's Investment in the Australian Mineral Industry: Theoretical Perspective and Investment Characteristics | p. 18 |
Existing theoretical perspectives on Chinese ODI | p. 19 |
General theoretical perspectives on FDI | p. 19 |
Special theoretical perspective on China's ODI | p. 20 |
Chinese ODI: The developmental process, patterns and characteristics | p. 22 |
The development stage of Chinese ODI | p. 22 |
The motives behind Chinese ODI | p. 24 |
Entry approach of Chinese ODI | p. 26 |
Chinese ODI in the Australian minerals industry: An overview and key characteristics | p. 27 |
An overview | p. 27 |
Characteristics of Chinese investment in the Australian mining industry | p. 28 |
Mineral distribution and the developmental stage of investment | p. 28 |
The characteristics of acquiring Chinese organisations | p. 34 |
Motive and mode of entry by Chinese investors Entry motive | p. 36 |
Entry approach and the developmental stages of target companies acquired | p. 38 |
wos | p. 40 |
Acquiring a controlling stake | p. 41 |
JV | p. 41 |
Minority equity participation | p. 41 |
Obligations and rights for Chinese investors as JV partners or equity participants | p. 45 |
Australian Regulatory Framework on FDI and its Application to Chinese Investment | p. 48 |
Introduction | p. 48 |
A brief description of FDI in Australia and its mining industries | p. 49 |
FDI in the Australian resources sector | p. 50 |
Australian regulatory framework for FDI | p. 51 |
An overview | p. 51 |
The Fata and the policy | p. 52 |
The Australian national interest | p. 53 |
Recent developments on the Australian regulatory framework | p. 54 |
The Six Principles, SOEs and "Sovereign Wealth Funds" | p. 55 |
Convertible bonds, and lifting the threshold for foreign investment reviews | p. 57 |
Clarification of national interest | p. 58 |
Summary of national interest | p. 59 |
The outcomes of FIRB decisions on FDI applications between 2001 and 2009 | p. 60 |
Concerns about Chinese investment and their review outcomes | p. 62 |
Concerns about Chinese investment in the Australian mining industries | p. 62 |
FIRB decisions on Chinese investment | p. 63 |
The Impact on Australian Political Economy from Chinese Investment into Australia's Mining Industry | p. 71 |
Introduction | p. 71 |
Australia-China economic relations | p. 73 |
The GFC and impact on Australia-China political economy Political reverberations of the failed Rio | p. 80 |
Tinto-Chinalco deal | p. 82 |
Politicanature of Chinalco | p. 82 |
Australian political opposition to the deal | p. 83 |
Collapse of the Rio-Chinalco deal and political reverberations | p. 85 |
Chinese investment in Australia: The political sales activity post Rio-Chinalco | p. 87 |
The Rio-BHPB deal: China opposition, Australian political reply and the deals demise | p. 90 |
The case of Stern Hu: Iron ore commerce meets international diplomacy | p. 93 |
The Australian government and opposition response to the Stern Hu case | p. 95 |
The Stern Hu trial and the Australian resource sectors commercial diplomacy response | p. 98 |
An end to the annual iron ore benchmark pricing system: Political consequences | p. 99 |
WA politics: The premier mining state within Australian political economy | p. 102 |
The politics of the super profits mineral tax | p. 105 |
The global politics of China's economy ascendancy: Australia-China relations within the broader international sphere | p. 107 |
Conclusion | p. 111 |
The Investment Process and After-Transaction Integration and Management | p. 113 |
Introduction | p. 113 |
The entry process: Major steps and factors considered | p. 114 |
Pre-investment preparation | p. 114 |
The negotiation stage | p. 119 |
The transaction stage and several key terms and conditions in the transactions | p. 120 |
Entry considerations and their impact on financial performance | p. 124 |
After-transaction integration and management | p. 127 |
Why the Proposed Chinalco Investment in Rio Tinto Failed | p. 140 |
The background of the Chinalco-Rio deal | p. 141 |
The proposed strategic alliance between Chinalco and Rio | p. 142 |
Analytical framework and data collection | p. 143 |
Identifying key stakeholders | p. 145 |
Data collection | p. 145 |
Actions and interactions among key players on the deal | p. 147 |
Key activities conducted by Rio and its interactions with other key stakeholders | p. 147 |
Activities conducted by Rio from 12 February to 20 April | p. 148 |
Activities conducted by Rio after its 2009 AGMs | p. 151 |
The final stage of deal negotiation (late May-4 June 2009) | p. 153 |
Activities conducted by Chinalco's senior management | p. 155 |
Political and competitive activities conducted by BHPB | p. 160 |
The Australian government's actions | p. 164 |
Factors considered by the Australian Government in assessing the Chinalco-Rio deal | p. 164 |
Activities conducted by the Chinese government | p. 170 |
Factors causing the failure of the proposed Chinalco-Rio alliance | p. 171 |
Environmental factors | p. 172 |
Organisational factors | p. 173 |
Chinese Investment in the Australian Minerals Industry: Concluding Comments, Organisational Challenges and Policy Implications | p. 175 |
Key characteristics of Chinese investment in the Australian minerals industry | p. 176 |
Mineral distribution and the stage of entry | p. 177 |
Ownership by Chinese investors | p. 178 |
Entry approaches by Chinese firms | p. 178 |
Operational and managerial issues and future challenges | p. 180 |
Ownership and corporate control | p. 180 |
Senior management appointment and remuneration | p. 181 |
Challenges in corporate governance | p. 182 |
Issues and challenges in financing | p. 185 |
Other operational challenges | p. 186 |
Policy issues for Chinese investment in Australia | p. 187 |
Policy issues for Australian governments | p. 188 |
China's ODI-related policy issues | p. 195 |
References | p. 200 |
Index | p. 216 |
Table of Contents provided by Ingram. All Rights Reserved. |