Dubai, a place to invest?via WikipediaCNReviews summarizes the ground-breaking interview James Fallow had with Gai Xiqing, president of the China Investment Corporation (CIC), called "be nice to countries that lend you money".
It addresses one of the key issues in the current economic crisis: how long is China going to support the US economy, or, how long do they have to. Elliot Ng got some of the nuggets from the interview and not surprisingly causes quite some discussion, also in the comments.
Consumers also have gotten used an unsustainable level of leverage: “People, especially Americans, started believing that they can live on other people’s money. And more and more so. First other people’s money in your own country. And then the savings rate comes down, and you start living on other people’s money from outside. At first it was the Japanese. Now the Chinese and the Middle Easterners….After we are gone, you cannot just go to the moon to get more money.“More on Gao Xiqing's interview here.
Commercial
Where is China heading with it financial policies? Ask one of the leading voices at the China Speakers Bureau.
William Bao Beanby Fons1 via Flickr
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