BHP Billiton and Rio Tinto: seizing opportunities in China's dragon economy [Case study]
Other Publication ResearchOnline@JCUAbstract
[Extract] Introduction: BHP Billiton and Rio Tinto are two of the biggest names in Australian commodities. The greatestdemand for iron ore is in the developed world and in countries undergoing rapid developmentsuch as China. These firms seized opportunities offered by dramatic transformation of China'sdragon economy. In 2008, China's GDP was estimated to be US$3 860 039 million. In termsof world trade, it was ranked second for exports and third for imports.i Demand for iron oreresulted in unprecedented price levels and profits for the Australian mining giants. In 2008,BHP reported a profit of $18 billion. ii Australian companies and the Australian government haveworked hard to become the supplier of choice for raw materials.
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International Marketing, 2nd Asia Pacific Edition
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978-0-17-018696-4
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4
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Cengage Learning
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South Melbourne, VIC, Australia
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