China

I just visited China for 28 days. Covered a lot of country in that time as we didn't just stay in the larger cities.
Firstly, we met very many nice people. They were helpful and friendly and I am still corresponding with some.

Impressions on China. Still massive building going on. Many high rise developments as well as roads bridges tunnels etc. These roads etc are all on a scale we don't even dream about here. However many of these buildings do not appear to be inhabited. WE travelled a bit at night on fast trains and by boat down the Yangzte. Many places had many many massive apartment complexes with no lights on.

So yes there is still building going on at a massive pace and on a scale not dreamed of here. It does seem though as a lot of these buildings are empty. One would think this cant go on forever and things must slow down soon. I had a picture in my mind of how much building was happening but it is really mind boggling to the average Aussie.

The wealth there is also unbelievable and yes there are many poor people but oh the money. I saw more Prada,Gucci,Rolex etc shops than ever before in my life. New York is nothing. They were in all cities we visited. Designer gear is de rigeur for women and they want rich husbands to fund their lifestyle. Men outnumber women and wives are difficult to come by without the 5cs Credit card,career,condo, car, cooking as one Chinese woman told us.

The Chinese are on the move. The number of internal tourists is staggering so there is much disposable wealth. German cars and a place in Australia are highly prized.

The Chinese think and operate differently to us in business. A saying we heard often was 'The Chinese Love Money"
They are in business to win and they play for keeps. They like to have control and are long term planners. It seems the end justifies the means.

Ansteel are playing for the ore and don't think for a moment if they do make a takeover offer for KML it will be good for GBG shareholders. Never again will I buy shares in a company that looks like it may have a Chinese company as a large shareholder. Any weakness will be taken advantage of and the plan is always long term.

These are my opinions and mine only. They are based on my observations. THe way they do business and their way of thinking is culturally different to ours. Some hot copperites dont seem to be aware of this.Its just the way it is.

These are my opinions only from my observations.

If anybody wishes to contact me for a further chat Ill provide my email address on request.
Cheers
Gmac