China: Lessons Not Learned in Iron-Ore Talks

Annual negotiations for iron-ore prices are under way, and China is attempting yet again to use its high demand for the metallic element as a lever in bargaining with major producers. Last year's negotiations, in the trough of the global recession, were highly contentious, and China’s hard bargaining did not pay off. Now China is trying to conclude the negotiations early — but with tactics that suggest it has not learned any lessons.