China's trillion-dollar kitty is ready

[donsu]

http://www.atimes.com/atimes/China_Business/IJ02Cb01.html


China Investment Corp (CIC), the country's long-awaited gigantic state investment arm set up to make use of its huge and ever-growing foreign exchange reserve for overseas investment, was inaugurated over the weekend.

-snip-

In May, the new company, while still in preparation, made its first investment in non-voting shares, valued at US$3 billion, in the US private equity firm, the Blackstone Group.

-snip-

Analysts said CIC's debut was a major move China had made to increase the value of its $1.4-trillion foreign exchange reserve, the world's largest.

-snip-

China's exports rose by 27.6% in the first half of 2007, exceeding imports growth of 18.2%, lifting the trade surplus to $112.5 billion.
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we shall see what we shall see

[soothsayer]

1. Russia's debt free and swimming in cash. Only the US is sinking under crippling debt?

[WinkyDink]

2. Who won that Cold War, again?