Its all Monopoly money!
China has $3.3 Trillion in reserves and it took 18 months and approval by Canada’s Parliament to allow them to buy a Canadian oil company worth $15 billion.
So it took them that much time and trouble to be able to put 0.4% of their reserves into a “hard” asset.
Makes me think
- There aren’t enough “hard” assets out there for China’s money, let alone other surplus nations
- They are stuck with T-Bills for a long, long time...