In less than a week, two Chinese state-owned companies have offered more than US$20bn in total to buy into cash-strapped Australian miners.
The deals, in which Chinalco would increase its minority stake in Rio Tinto and Minmetals take over Oz Minerals, are creating the expectation that China is setting out on a global buying spree.
But while a growing number of Chinese corporate leaders are recognising the need to internationalise their business, most still take a cautious attitude towards potential cross- border mergers.
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