Thursday, March 03, 2011

Much about costing

Books of Account
China Inside out
Bill Dodson

Cost, currency and finance dynamics in China

To those who do not think much about costing, it can be shocking to read in China Inside Out about how ‘classified costing information of the Chinese steel companies involved in benchmark negotiations' allegedly found in Rio Tinto's hard disks was seen as ‘theft of state secrets.' ...
A chapter called ‘The global sugar daddy' – in the book sub-titled ‘10 irreversible trends reshaping China and its relationship with the world' – opens by introducing us to Stern Hu, one of the jailed employees, as ‘a Chinese, a naturalised Australian citizen sent to China to be the lead negotiator representing the interests of Rio Tinto, one of the largest producers of iron ore in the world.'

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