China goes on US buying spree

[eridani]

Geez, maybe if we didn't have to be a fucking empire, we can haz sovereign wealth fund too?

http://www.manufacturing.net/article.aspx?id=240522

China's giant sovereign wealth fund revealed it has accumulated stakes totaling $9.6 billion in major U.S. companies including Coca-Cola, Apple and Goodyear following a buying spree last year.

Most of the stakes are small, reflecting China Investment Corp.'s strategy of avoiding politically sensitive acquisitions. But they highlight its growing presence in global markets as it invests a portion of Beijing's $2.4 trillion in foreign reserves.

The holdings were disclosed Friday in a filing with the U.S. Securities and Exchange Commission that listed shares traded in the United States.

CIC, one of the world's biggest investment funds, was launched in September 2007 with $200 billion in capital to earn a better return on Beijing's reserves. One-third of its capital was earmarked for investment abroad, and the fund has bought minority stakes in mining, oil and financial companies.

The biggest holding in CIC's disclosure is $3.5 billion in Canadian mining company Teck Resources Inc., an investment that was previously announced.

CIC has expanded cautiously abroad, trying to avoid a repeat of the political uproar in Washington that followed state-owned CNOOC's 2005 bid to buy U.S. oil and gas producer Unocal Corp. CNOOC Ltd. withdrew its bid after some U.S. lawmakers complained the sale might jeopardize national security.

[Quantess]

1. Pretty soon we'll have new owners.

[gateley]

2. Sigh. nt

[HeresyLives]

3. They have the bucks.

Better to invest some of it in real estate and businesses, than let it sit in a bank.

[givemebackmycountry]

4. God Forbid this penetrate the THICK FUCKING SKULLS of Teabaggers...

And Republicans nationwide, because they sold us out and Bush was there saying, "yeah, whatever".

[damyank913]

5. Look at it this way...

At least US dollars are getting back into the US. Besides that, remember Japan got lured into investing inside the US and got totally burned? Their still paying for it.

[madmax]

6. Richard Nixon

My bil loved him for opening the door to China and he still believes it was and is a good thing.

When I was a child and Kruschev was banging the table at the UN saying, 'we will bury you', my Mom said, don't be afraid of Russia - it will be China'.