September 23, 2009
Foreign Investors Prefer CUIB Over BRIC
According to the UN Conference on Trade and Development (UNCTAD) 2009 World Investment Report, the world's largest transnational (multinational) corporations' planned foreign direct investment (FDI) in the short to medium term (next 3 years) will most likely go to China, USA, India, and Brazil or CUIB (pronunciation is up to you but the writer thinks "quib" sounds about right ;-) . China alone received 7% of global FDI flows in 2008. Click here for a fact sheet on FDI in China....
Labels: BRIC, foreign investment, un
May 19, 2009
China Secures Latin American Oil Ahead of Summit
Venezuela Energy Minister Rafael Ramirez said today that the country will soon begin assembly of the first of 13 deep water oil drilling platforms China will assist Venezuela in building under a 2007 oil deal.
Meanwhile, currently on a state visit to Beijing Lula da Silva, President of Brazil, signed over a dozen agreements including $10 billion in financing from the China Development Bank for Brazil's state-owned energy major Petrobras for future supplies of 100,000 barrels of oil per day to China.
The 3rd China-Latin America Business Summit will be held in November in Bogota, Colombia.
Labels: BRIC, energy security, oil, peak oil
October 09, 2008
"Canada is not China"
So says a former Fed official as the USA seeks well-capitalized banks to clean up Wall Street's big financial mess. Of course that comment simply means that Congress won't balk if Canada banks start buying up American assets. Of course, Canada is not China financially either. Unlike Canada, China is sitting on a the world's largest collection of dollar bills and American debt. As the current election cycle is showing, bigotry and ignorance of the world beyond the United States' coastlines may sell politically but it continues to do serious damage to the now short-term prospects for American citizens.
In a related note, the remainder of the BRIC countries (Brazil, China, India) will attend Treasury Secretary Paulson's emergency G7 and later G20 summit starting tomorrow. Russia is already regular member. Will we see a new Bretton Woods emerge? We'll find out Saturday when the meeting is supposed to make an announcement.
Labels: BRIC, china, financial crisis, paulson
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