John At The Center

Last year, Rowley said, Fortescue provided favorable ore prices to a major Chinese steel company in return for a promise of billions of dollars in investment. But the Chinese firm reneged on the promise at the last minute. He said that was a sign of things to come.

“Either the Chinese will have to learn to honor contracts or we will have to learn how to operate in a system with less clarity,” he said.

“They are an enormously powerful nation,” Rowley added, his back to the Perth skyline with its frenetic cranes and glistening new towers of glass. “The world hasn't woken up to the fact that they are going to replace America. But it's how they're going to do it that's the question.”

via Australia welcomes China’s investment, if not its influence – washingtonpost.com.