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| | China Oil Corp.'s bid for Unocal -- new evidence of power game / Beijing has $700 billion stash in foreign exchange ... |
 | | Experts such as Jing Huang, a senior fellow at the Brookings Institution, say the deal is part of the Chinese government's new go-out strategy, which intends to utilize China's $700 billion in foreign exchange reserves to acquire leading companies and brands in key industries. |
 | | The intention is to give greater definition and focus to China's increasing economic might, said James Brock, an independent adviser to the energy industry in Beijing. |
 | | The question of subsidies aside, Michael Pettis, associate professor of finance at the Guanghua School of Management at Beijing University, said China's purchase of foreign companies is a way for the government to mitigate the impact of keeping its currency, the renminbi, artificially undervalued to boost exports. |
| www.sfgate.com /cgi-bin/article.cgi?f=/c/a/2005/07/10/INGRADJFDR1.DTL (1278 words) |
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