As part of China's unprecedented economic expansion, its state-owned enterprises (SOEs) in the resource sector have become sophisticated corporate conglomerates functioning much like any Western multinational. China's resource-sector SOEs are well-capitalized, multi-billion dollar enterprises competing on a global scale for assets and resources. Economists predict that China's economy will continue expanding dramatically and that domestic demand for steel, nickel, copper, concrete, oil, and other commodities will increase for years to come. Reaction to this new economic powerhouse has been mixed. Resource-rich countries like Canada and Australia are profiting as commodity prices hit historic highs, but foreign investment, trade, political, and economic tensions have arisen as China competes for resources and markets.
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