|
|
|
|
The Chinese government as stock picker
Harvard-trained economist David Li, who runs the new Center for China in the World Economy at Tsinghua University, has already emerged as one of the more interesting people at this conference, with two mentions in this blog already.
This morning, at a breakfast discussion I moderated on U.S. indebtedness to Japan, China, and the rest of the world, he broached a fascinating suggestion. He and others in China, he said, have recently been pushing the government to invest some of its massive foreign exchange reserves in "well-managed, resource-deep companies in order to hedge the risk of an increase in commodity prices." That is, it could buy a 5% stake in, say, BP or Exxon Mobil. Li says he broached this idea with BP chief John Browne, who responded, "Why not 25%?" I think it will only be a matter of time before some foreign government buys a significant stake of an American oil company. When it occurs, the U.S. will have to change its policy on many matters. Only imagine if Iraq had a significant interest in Exxon. With so many mutual funds having Exxon as one of its major holdings, would we still invade?
Posted By : 11:53 AM | Add a Comment
lets face it, BP and Exxon are expecting a huge law suite for price fixing on gasoline. Do we think, chinese governement is that stupid?
Posted By Anonymous : 1:02 PM | Add a Comment
CNNMoney.com Comment Policy: CNNMoney.com encourages you to add a comment to this discussion. You may not post any unlawful, threatening, libelous, defamatory, obscene, pornographic or other material that would violate the law. Please note that CNNMoney.com makes reasonable efforts to review all comments prior to posting and CNNMoney.com may edit comments for clarity or to keep out questionable or off-topic material. All comments should be relevant to the post and remain respectful of other authors and commenters. By submitting your comment, you hereby give CNNMoney.com the right, but not the obligation, to post, air, edit, exhibit, telecast, cablecast, webcast, re-use, publish, reproduce, use, license, print, distribute or otherwise use your comment(s) and accompanying personal identifying information via all forms of media now known or hereafter devised, worldwide, in perpetuity. CNNMoney.com Privacy Statement.
|
|
| 
© 2009 Cable News Network. A Time Warner Company. All Rights Reserved.
Terms under which this service is provided to you. Privacy Policy
Live Quotes automatically refresh, but individual equities are delayed 15 minutes for Nasdaq, and 20 minutes for other exchanges. Market indexes are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET.
* : Time reflects local markets trading time. † - Intraday data delayed 15 minutes for Nasdaq, and 20 minutes for other exchanges. Disclaimer
* : Time reflects local markets trading time. † - Intraday data delayed 15 minutes for Nasdaq, and 20 minutes for other exchanges. Disclaimer
| Copyright © 2009 BigCharts.com Inc. All rights reserved. Please see our Terms of Use. MarketWatch, the MarketWatch logo, and BigCharts are registered trademarks of MarketWatch, Inc. Intraday data provided by Interactive Data Real-Time Services and subject to the Terms of Use. Intraday data is at least 20-minutes delayed. All times are ET. Historical, current end-of-day data, and splits data provided by Interactive Data Pricing and Reference Data. Fundamental data provided by Morningstar, Inc.. SEC Filings data provided by Edgar Online Inc.. Earnings data provided by FactSet CallStreet, LLC. |
