Bloomberg reports China's $3 Trillion Reserves Show G-20 Task as Wen Resists Yuan Pressure Chinaâs foreign-exchange reserves exceeded $3 trillion for the first time, highlighting global imbalances that Group of 20 finance chiefs aim to tackle at meetings in Washington. China needs to reduce its foreign- exchange reserves as they exceed the level the nation requires, central bank Governor Zhou Xiaochuan said. What Does $3,045 Billion Buy? The Financial Times asks What Does $3,045 Billion Buy These Days? Italy. Principal and interest on the entire sovereign debt stock of il bel paese, going out to 2062, comes to $3,031bn. Or if China were after commodities, rather than countries, it could stash away 25bn barrels of Brent crude. Based on Februaryâs consumption, that would satisfy almost 13 years of net oil imports. And how about companies? Assuming a civil 30 per cent takeover premium, Beijing could buy up Americaâs ten biggest listed firms, from ExxonMobil to JPMorgan, or the 15 biggest Euro-stocks, from BHP Billiton to Eni. For true value for money, though, China might want to browse a little closer to home. Its reserves managers could acquire the entire Nikkei 225, with $30bn in change. Read more: http://www.businessinsider.com/china-3-trillion-reserves-2011-4#ixzz1JuNaYYrf
As long as we are giving them dollars that we create out of thin air for their goods and labor, all is well. If they start demanding precious metals on the other hand...
If I understand correctly, China is not even a cent in debt? And they are in a position to spend 3 Trillion dollars? I don't know how they did it but Chinese official need to train American officials.
Chinese are stupid They invested in 3 Trillion today's USD soon to be worthless. How much more can you act stupid?
China has one advantage that we lack. Here, when a big enough group of voters get together, they get money from the government. Over there, they get run over by tanks (literally).
Mussolini, Stalin, Hitler, Pol Pot, and whatever the name of the dumbfuck running N Korea right now had the same advantage. Feel free to move. We won't miss you.
It doesnt take the chinese $9 billion to build a few miles of underwater tunnel. It also doesnt take the chinese $750million to do "site studies" spanning a decade on said tunnel. Government policies gets implemented in weeks, not years. China also runs their entire banking system like a utility instead of vegas. 99.9% of chinese are also not stupid enough to sign a zero down mortgage 10x their annual income. They also dont have unions to rot the country from within. But most importantly, american companies keep handing money to the chinese while laying off their own workers in the usa. case closed.
''Megastructures'' on Discovery Channel showed a kick-ass building they constructing in Shanghai for exchange purposes . We want the world to trade from here.....the Chinese guy said .
Really? We gave them a big chunk of our well-paying manufacturing jobs and they have millions of workers willing to labor for $1/hr.