Why hasn't North American mining taken off like it was supposed to?
One unseasonably warm weekend in March, executives from some of the largest Western mining firms moped around a convention center in Toronto, Canada. The glum atmosphere was a stark contrast to the much more celebratory feel of mining conferences in recent years. Just three years ago, Robert Friedland, the eccentric founder of Ivanhoe Mines, told mining executives that they were about to “make more money” than ever before: After decades of being shunned as a dirty industry best kept offshore
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Chinese companies have decided that the best place to make money right now is outside of China. The phenomenon known as chu hai (出海), which translates to “go global,” has taken hold, marking a kind of second 'go out' initiative. This time, however, Chinese companies are being met with scrutiny and suspicion.
The former Commerce Secretary and ambassador to China talks about how his background shaped his approach to dealing with Beijing, the pivot to Asia and negotiating Chen Guangcheng's release.
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