Senior managers in state owned firms and government officials who like placing overseas bets from the comfort of their computer terminals have lost that spring in their step ever since police in Hubei province broke up what is thought to be China’s largest online gambling ring. By big, we mean US$7.3 billion big. While China’s economic growth is widely seen as a safe long-term bet, fewer foreign companies have the means to do it. The financial crisis has taken another bite out of foreign direct investment (FDI) in China. The May figure fell by 17.8% year-on-year to US$6.38 billion, though the pace of the decline slowed from the 22.51% yearly drop seen in April and the 20.4% fall recorded in January through May. And finally, after Chinalco witnessed its high-stakes US$19.5 billion bid for a stake in Anglo-Australian miner Rio Tinto rebuffed in favor of a joint venture between Rio and BHP Billiton, Beijing is showing that it might have some teeth. Ministry of Commerce officials asserted Beijing’s right to review the deal under its new anti-monopoly law. The review would be performed in “a controlled manner” to stave off any trade friction. It’s nothing personal…Just business.