Saturday, March 03, 2007

China Moving in the Right Direction

China Changing Stance?

This could be an indication:
March 2, 2007 (Beijing)China has left Iran, Sudan, and Nigeria off its latest list of resource-rich countries for which it will provide financial incentives to Chinese companies to invest in, the Financial Times reported.

The Chinese National Development and Reform Commission, the chief economic planning agency that also oversees energy policy, released the new list on Thursday.
The nine nations slated for further Chinese oil and gas investment are Kuwait, Qatar, Oman, Morocco, Libya, Niger, Norway, Ecuador and Bolivia.

It is not clear whether the exclusion of Iran, Sudan and Nigeria came because Chinese companies already have short-term investment plans in the three countries, or for more political reasons...Kudos to China.

I'll be cooking and eating lots of chinese food from now on...


Sherry said...

Chinese food sounds really good. Just leave out the pork. Yuk. Don't like Pork. But the chicken is very good with rice.

RoxieAmerica said...

China most likely believes in wise investment, and sees that extremist Islam may not provide the best stability.

A Jacksonian said...

Well, they may not be doing it for altruistic reasons... it looks like 30-60% of the Chinese GDP is placed on companies unable to pay their debts. That does not bode well for China and I expect they now need their money at home to try and alleviate the problem. Too bad their government influenced banking system is the *source* of that problem.

SERENDIP said...

Sherry: I don't like pork either...but I can eat the noodles and the chicken.

Roxie and a Jacksonian: You're both spot on...risky investments and too much banking regulations hindering the free market process