| Publication |
2009.
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| Summary/Abstract |
The failure of Aluminum Corporation of China (Chinalco) to consummate its planned $19.5 billion investment in the Australia-based mining group Rio Tinto is the latest and largest failure of the "go out" policy adopted 10 years ago by the Chinese government. Since the China National Offshore Oil Company's dramatic aborted attempt to acquire America's Unocal in 2005, China has learned a lot-but perhaps not enough. More and more Chinese capital has been invested in companies outside of the mainland, but the amounts are still small relative to other economies of China's size and miniscule relative to the immense amount of foreign exchange China has accumulated.
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