So I was listening to the BBC this morning, and there was talk about China buying 10% of Blackstone equity company.
StreetInsider wrote:
China has agreed to take a $3 billion stake in U.S. private-equity giant Blackstone Group, which marks an unusually aggressive start to the country's long-anticipated campaign to diversify how it invests massive foreign-exchange reserves.
This is the first time China invest their huge foreign reserve in a commercial transaction, thus taking a greater risk than usual with it, and that's what all the fuss is about. But the reporter on the radio also mentioned that this was not the first time China had attempted to do this, and that previous attempts of buying a small US oil company had failed, due to negative reactions by the US government. Likewise in this case:satnews wrote:
Analysts said China has been looking to diversify its foreign exchanges reserves away from low-yielding US Treasuries.
So what interests me, is this: Exactly how "free" is the free market when its main supporter is charged with protectionism?BBC wrote:
The news is likely to create some political opposition in the US
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