Posted on 04/21/2008 6:25:03 PM PDT by kiriath_jearim
China has built up a stake of about 1 per cent in BP via a sovereign wealth fund. The stock market value of the stake is estimated to be about £1bn.
The move follows the purchase of 1.6 per cent in French oil company Total by China's State Administration of Foreign Exchange.
Gordon Brown, the prime minister, on a visit to China in January urged the country's new $200bn sovereign wealth fund, China Investment Corp, to use London as a hub for its international operations, contrasting Britain's "open door" policy with protectionist signals from the US.
Mr Brown's words won a warm response from Wen Jiabao, Chinese premier, who said the fund would operate on "a totally corporate basis, without intervention from the government".
“Wen Jiabao, Chinese premier, who said the fund would operate on “a totally corporate basis, without intervention from the government”.”
We heard all that before when BP financed Chinas’ entry into the Sudan.
And monkeys will fly out of my butt.
Yeah, and China is not our enemy either...just ask Jimmah Carter and Osama Obama. As the Chicoms just keep marching forward in the pursuit of their stated goal of WORLD DOMINATION.
SOVEREIGN WEALTH = FASCISM
I didn’t like BP anyway with their phoney baloney “green” oil company ads.
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