China Inc is unlikely to assist Rio Tinto with a major cash injection any time soon, despite what Chinese officials say is a top-level Government directive for state-owned companies to go out and buy international resources assets at current discount prices. Rio Tinto has announced it will slash 14,000 jobs, cut $US5 billion ($7.6 billion) in capital spending next year and accelerate asset sales to repay $US10 billion of debt by the end of 2009 as the global financial crisis curbs demand for ...read more [4]