Here is how I envision that part going down...
The Chinese put up $100 billion and Japan puts up $100 billion and Korea puts up whatever billions they can muster...
As a pan Asia congolomerate they will be tasked with meeting mutually beneficial goals. Japan has an energy bottle neck as does China. Its called the Straits of Malacca.
These groups can get together on the side of whatever they are doing now and can muscle their way in.
If not that, they can just do it on their own with a $100 billion private equity energy fund.
All of it is a red herring and not worth the time to debate it. People are wasting their time with that talk. "OH my! OH MY! They are going to stop buying treasuries! We're all doomed! Run for the hills!" Total BS.
The real issue is the regional economic impact in Asia and how this fund deploys this money. Over time it can be an issue.
Also the energy sector should be on the lookout as well. How the money is deployed there is another thing to watch. keep in mind though the US isn't likely to be displaced anytime soon. Exxon had a $40 billion dollar profit alone last year. None the less, its something to watch.
Like I said, its all about influence.