Posted on 06/25/2009 7:41:26 AM PDT by FromLori
LOS ANGELES (MarketWatch) -- A top Communist Party research chief said Thursday that China should buy gold and U.S. real estate rather than Treasurys, according to a Reuters report.
Li Lianzhong, who is head of economics at the party's policy research office, said the U.S. dollar is poised for a fall, making gold and land better investments for China's $1.95 trillion in foreign exchange reserves, the report said.
It quoted Li as saying Beijing should also focus on buying up energy and natural resources.
His remarks followed just hours after China Petroleum & Chemical Corp. -- better known as Sinopec (SNP 72.64, -0.03, -0.04%) (HK:386 5.61, +0.02, +0.36%) -- said it had reached a deal to buy oil and gas group Addax Petroleum Corp. (CA:AXC 49.80, +0.74, +1.51%) (ADXT.F 42.85, +0.32, +0.75%) for $7.2 billion. See full story on Sinopec acquisition.
(Excerpt) Read more at marketwatch.com ...
Rahm?
Can’t argue with him on that....
Sell them California but they have to keep Schwarzenegger and the illegal aliens
lol that would be great!
Say herro to your new randrords, y’all.
Funny thing is, it’s tough to argue with their logic.
they’ve already done it throughout asia...centuries ago...look at Thailand...hardly a Thai owns a piece of their own country...most of it owned by the Chi-Thais...Thai in name only
Time to master the chopstick, I guess.
The chicoms are making better financial decisions than our dear leader. Nice.
It is so sad seeing this once great nation of capitalism being played economically like a cheap guitar by a bunch of commies. I never thought I’d see the day.
Thailand?
Thailand?
;-)
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