With cash to spend, China starts investing globally
source: http://www.nytimes.com/2009/02/21/business/worldbusiness/21yuan.html
http://www.nytimes.com/2009/02/21/business/worldbusiness/21yuan.html
Unlike the rest of the world, China has money to spare, and lots of it. The People's Republic of China has recently invested in Venezuela, Australia, Brazil, and Russia. This is considered "...heavy energy diplomacy." In other words, China is flexing it's muscles.--------------------------
SHANGHAI — With the world suffering through a tight credit market, China has suddenly gone shopping.
Beijing said on Friday that one of its big state-owned banks, the China Development Bank, agreed to lend the Brazilian oil giant Petrobras $10 billion in exchange for sending China a long-term supply of oil.
That investment came after similar deals were signed this week with Russia and Venezuela, bringing China’s total oil investments this month to $41 billion.
China’s biggest aluminum producer also agreed earlier this month to invest $19.5 billion in Australia’s Rio Tinto, one of the world’s biggest mining companies. And last Monday, the China Minmetals Corporation bid $1.7 billion to acquire Australia’s OZ Minerals, a huge zinc mining company.
Flush with cash and eager to take advantage of weak commodity prices, China is once again on the hunt for global energy and resources to power its growing economy. But this time, China is being welcomed as an investor overseas.'
End of excerpt
Source: The New York Times Online
What do you think about China's recent acts of economic diplomacy? Will China become the superpower ?
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holyshiite
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Another very, very "long Wang" commercial after a very "short post". Another "Bush" comment from Wang. See a pattern?
- 4 years ago
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holyshiite
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wilmo1975
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Doesn't China own most of the USA, heck make that the world, already?
- 4 years ago
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wilmo1975
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cynker
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funny how so many people invested in china, then our economy collapses then china becomes the superpower of the world isn't it? almost as if it were planned...
- 4 years ago
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cynker
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JesusReturningNews
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The Bible is fullfilling it self, the peace's leading up to W.W.3 is @ our door. We have Super Power's fighting for position's.
As prophecied in the Bible would happen , leading to Armageddon.
Some call it New World Order, what ever the case mabe we are in crisis & it's a matter of time when thing's go pop.!!!!!
Since 911 we have been on this path, with no turing back unfortunatly. No telling what our future hold's
We are very tender now, it won't take much to tip the scale, less on this is some people agenda to do.
China & Sadi own's much of our debt. we haft to dance to there music sooner or later.
This fight over oil, by 2050. will be very ferce , some say we will see a mushroom cloud before then in the middle- east.
Bad is in our future no one know's the next turning point but it's coming,form who & where nobodies knows.
We just haft to stay tune , corruption has brought us to our knee's. The people that has Billion's & Trillion's want's the World to stay slave's to them.
It will be this way forever, you just haft to do what you can to survive.
I have a Book coming out in June, I titled it Obama Time.!!!!! which it is His time to cont... with The World view program.
It's the people with money that run the World, that want thing's to cont... going the way they are & there's nothing no one can do about it.
These are said day's , one can only pray & survivve & go after there dream's. Some people are doing well & getting richer doing these time's
Should you get any air to survive , you better jumb @ it full force & keep going. It's a Blessing just to have a job.
To pay bill's & to eat, most are suffering & barley making it. These are the day's we are living & it'is going to get worse.
By 2012.13.14. Iran Pres. want to drop a Nuke on Israel , that will turn the World up - side down into another spirrow.
Let's just sit back & watch the picture, it's more said new's to come & unexpected thing's that will happen.
We looking for the big thing's like 911 to get our attention. What 's going on with our Economy now is Bigger than 911
Which 911 was the spark now it's a domino effect of corruption.!!!!!! Let's all just stay tune.!!!!!
- 4 years ago
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JesusReturningNews
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ruebezahl
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The USA needs the Chinese yen, beggars can not be choosers. Remember the time in the USA when Chinese had to live underground to save their lives, because of racism. Payback time will come sooner as we like and racism will be reversed yellow against white. As I understand there are 70 Chinese per one Caucasian. .No guns will help us if it should come to confrontations between these races.
- 4 years ago
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ruebezahl
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kennymotown
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This is the century for China get ready too learn Chinesse.
- 4 years ago
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kennymotown
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02
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Let's seee, Kissinger sold them on opening up, - after all they had ruined their whole country's iron supply and were flat on their backs. So ablating the old-line commies with crass commercialism would do nicely; our business guys can reduce their payrolls and still sell goods at American-quality prices.
These good ol' boys get individually rich - by passing our iron, wood and natural resources AND trillions of our wealth to a foreign country; and the Chinese get to sell their knock-offs to the stupid Americans. Lead and melamine soaked junk (who cares if babies die - and since Americans are stupid anyway, the lead won't hurt).
Having taken our wealth they have no more America to worry about and they arrange an Asian Alliance, where North and South Korea vote to rejoin together and be a part of the new Pan Asian, Chinese power umbrella.Perhaps they decide to do away with the US Dollar and everyone uses Yuan, the Chinese new World Currency.
Perhaps they'll use it as a Pan-Pacific Unified currency for awhile, at first. The pesky Euro could be a temporary problem if the Chinese don't play their cards right.
Or - maybe we'll wake up and realize that the value, and only value of US dollars is the output of US citizens, - right here in the USA - and fix the sleazy globalism scheme that rips off our wealth and our money base; - and tighten our ship.
What da ya think? We gonna get smart or sit here watching TV and slurping in the deep-fry?
- 4 years ago
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02
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SANMedia
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You can't blame the Chinese for all the misery that is taken place in Africa. They're not intentionally supporting the genocide, but merely doing business with the Africans. That the African governments spend money they receive from oil revenue on weapons instead of education and infrastructure is their own decisions. China is not in a position to tell the Africans what to do with their oil-money... Ultimately, it's still the Africans themselves that need to take responsibility for their own action.
- 4 years ago
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SANMedia
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JanforGore
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SANMedia:
Bull. They are supplying weapons and defending Al Bashir to keep him from being arrested by the ICC. What is it with all of the love on this site for the Chinese government? They are human rights abusers!
- 4 years ago
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JanforGore
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kewal91
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SANMedia:
hey.. all is fair in love and war... and business
- 4 years ago
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kewal91
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JanforGore
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Yes, while most of their own population lives in squalor and hunger as they buy up oil fields in Africa and supply weapons to the Sudanese government that contribute to the Darfur genocide. They are no better than any other power looking for empire.
- 4 years ago
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JanforGore
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fiifi
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I hope China does not waste their money on any country in Africa.The African countries are so far indoctrinated by the imperialists to be saved.They are untrustworthy and ungrateful bunch of confused neo colonialists.The Arab world is not any better.
China should focus on latin and south America. - 4 years ago
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fiifi
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MoMoney
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Starts? They have already bought most of Africa, including its oil fields...
- 4 years ago
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MoMoney
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ddhboy
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MoMoney:
Yeah really, they haven't just started investing, they've probably accelerated, and now its to such a point that the AP finally picked it up as a story. Hell, vanguard covered this months ago.
- 4 years ago
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ddhboy
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XaviPhoto
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So what happens when we run out of money? uhhh....like now? Just print more and you end up paying for it. Besides, they sell us a bunch a crap we don't need, so when we stop buying, uhhh....like now... What then? It fucks with everything, including your wallet brotha'. You think America will invest in alternative energy? Thanks for your enthusiasm, but if your getting your info from the papers maybe you need to reconsider what your reading. You don't think we'll go to another war for economic purposes? Unlikely but we would? Look at Iraq....All economic. If you know something please enlighten us and share it instead of sounding arrogant.
- 4 years ago
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XaviPhoto
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neocongo
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Largely, no one on this article knows what the hell they are talking about, but thanks for the enthusiasm. Please, read something. A book, a newspaper, something, but READ it.
China sells us lots of stuff. Then they loan the money back when we need it. They don't own us, and they aren't going to own us any time soon. They might stop loaning us money, or we might (unlikely) stop paying it back. Their economy is growing fast but they are still decades behind us. Chill out muthafuckas.
- 4 years ago
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neocongo
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holyshiite
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neocongo:
Holy Shiite, Neo! I actually agree with the tone, the argument, and the phrasing! I'm marking this day on my calendar.
- 4 years ago
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holyshiite
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XaviPhoto
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The Chinese yen is linked to the dollar. I wonder what this means. Reminds me when Japanese bought all the real estate in the US with its excess dollars. Those who have money in tough times have the opportunity to consolidate big business. That's whats going on in the US. It's a shame when something that really has no value determines everything in order to live.
FUCK MONEY! - 4 years ago
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XaviPhoto
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acbrooklyn
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that country still has a mostly poor pop among other problems but money is money let them invest
- 4 years ago
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acbrooklyn
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nursediesel
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China already owns us. What was is Napoleon(e) said when asked about going after China? was it... let the sleeping bear sleep for when she awakes she'll rock the world. how prophetic..... She's awake and rockin'
- 4 years ago
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nursediesel
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vladbox
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They just closed deals with Venezuela for OIl (they will import about a million barrels a day from 2010. Remember the US consumes 15% of the oil from Venezuela) Put the first multi wide band communications satellite for Chavez and open one of the first of five cell phone assembly lines in that country.
I wonder why cant we even open a factory like that here in the US?
- 4 years ago
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vladbox
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XaviPhoto
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vladbox:
That's Commie talk! Big business wont allow that. We tried to take Chavez out of power in 2002, cia was behind that.
- 4 years ago
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XaviPhoto
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cerealforeal
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Oh you gotta love China, and especially this article;
"With the world suffering through a tight credit market, China has suddenly gone shopping."
Keep it up China, knock the U.S. off the global throne (as if you haven't already).
- 4 years ago
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cerealforeal
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Solar_Wind
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Solar_Wind
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neocongo
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Solar_Wind:
Alex Jones is a conspiracy theorist, alarmist, and sower of panic. I really wouldn't be suprised if he works for the government to help round up and identify nut balls.
- 4 years ago
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neocongo
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Solar_Wind
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Solar_Wind
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pissedoffinarkansas
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Solar_Wind:
We are also already way ahead of them in lowdown and dirtiness. Why do you think they haven't taken over already?
- 4 years ago
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pissedoffinarkansas
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neocongo
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Not yet, but they could be. The time is so incredibly ripe for the US to take the lead in renewable/alternative energies.
- 4 years ago
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neocongo
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cerealforeal
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neocongo:
I agree with you on the "not yet" part, but not with the "but they could be".
They will be. You can compare power between the U.S. and China right now, but the population advantage is going to come into play more and more for China as the years go by (as more and more of their nation acquires college and University education). The only thing the U.S. can top China on is military strength. In reality, that doesn't even matter, China will never wage war against the U.S.
Just a fun random fact, they got thousands of Mozart-like talents in their nation today (sure that doesn't mean much value-wise, but hey what other nation can say that?).
Does that mean the U.S. will be number two? Nope. After China takes the throne, India is going to be trailing right behind them.
- 4 years ago
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cerealforeal
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artist_speaks_out
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neocongo:
Are you seriously saying that they aren't a superpower? Do you pay any attention at all to global economics, or even high school level world history? Our currency is mostly backed by the Chinese as it is, and their economic growth rate dwarfs ours at present. Their industrial production rates are through the roof, and they manufacture most of our technologies for us. "Not yet, but they could be"? Soon, the Chinese will own us, and being in their pocket is exactly what we've sown.
- 4 years ago
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artist_speaks_out
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neocongo
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neocongo:
They are indeed a superpower. The question was, "will China become THE superpower." You need to calm yourself out of your xenophobic hysteria a bit, probably turn off the Fox news, and gain more information. I have a degree in international studies and a minor in economics, which by no means makes me an expert. I mention it only because of your prickish tone.
China is a rising star. Their economy is still decades behind the US.
- 4 years ago
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neocongo
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Valentin0o
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neocongo:
I have a major in badassnes and a minor in braking necks.
- 4 years ago
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Valentin0o
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Xenny
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neocongo:
was that really necessary valentino?
- 4 years ago
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Xenny
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neocongo
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neocongo:
Valentino -
Perhaps. I would focus on your spelling though.
- 4 years ago
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neocongo
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Valentin0o
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neocongo:
my awesomeness compensates for silly things such as grammar rules.
- 4 years ago
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Valentin0o
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kewal91
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neocongo:
wwow.. at the testosterone driven members of current...
- 4 years ago
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kewal91
