China puts iron ore price manipulation at $100bn

China has put a price tag on Rio Tinto's alleged commercial espionage - $100 billion. Unfortunately, they broke the first rule of elementary school math and didn't show their work:

China’s government, however, contends that the price was manipulated during those six years, costing the country’s government-controlled steel industry an additional $100 billion.

The Web site article did not make clear how the government came to such a figure. China’s iron ore imports over the past six years amounted to about $100 billion, not including freight costs, according to Philip Kirchlechner, a former Rio Tinto executive and now an industry consultant.

Does this sound like an opening offer in a high-stakes negotiation to anyone else?