China/ US real estate/Question

Discussion in 'Economics' started by nutmeg, Oct 18, 2010.

  1. Seems China is spending/investing money on real estate in Australia.

    Back in the 80's, Japan flush with cash, was buying up real estate in the US.

    If China is buying our bonds, hence they won't be using spare cash to buy our real estate.

    It would seem more productive to our econnomy for China to buy our real estate rather than our financial instruments.

  2. but Australia is under the Asian sphere now, even the aussie soccer team qualifies for the world cup under the asian football confederation, and many mainland chinese, hongkongers and singaporeans study and own property there.


    Australia's diplomatic march into Asia is continuing, with its latest achievement being a historic security pact with Japan.

    The agreement is seen as a good result for both countries.

    "It's a very significant accord," explained Professor Alan Dupont from the University of Sydney.

    "It reflects the fact that Japan is moving to develop a more assertive defence and foreign policy."

    The bilateral arrangement is also a boost to Canberra's long-term efforts to make more friends in Asia. It will lead to increased co-operation in the fight against terrorism, and more joint disaster relief operations.

    "It is generally accepted that in the region Australia is part of Asia," said Prof Dupont.

    "That is a historic shift. Australia was always seen as a bit of an outpost of empire, and its people transplanted Europeans. I don't think that is the perception now," he added.

    The Australian Navy has been chosen to partner with China for what's been called Beijing's most intense wargames with a foreign power to date. [ABC]
    VIDEO from APNC
    China Navy

    Created: Fri, 24 Sep 2010 08:41:10 GMT-0400

    Tom Iggulden

    Last Updated: Fri, 24 Sep 2010 17:25:00 +1000

    China has been cooperating with Royal Australian Navy for what have been called the most intense war games with a foreign power in the nation's history.

    China has never allowed Western media on to one of its navy ships during live target practice before but times are changing.

    The ABC was granted exclusive access aboard Chinese Navy frigate Luoyang as it took part in the exercises on the Yellow Sea off northern China.

    Commander Bruce Legge, the Australian frigate's commanding officer, says even though Australia is a close ally of the United States, tensions between Washington and Beijing are not any of his business.

    "Well I don't even think it's necessary to have the US here because it allows Australia to just concentrate on working together," he said.

    "You know we're working very closely with China, we certainly don't need America to do that and you can see just how forward we're moving with this."
  4. Someone told me that Australia has an contract/agreement with USA that if someone attacks Australia then USA will send its military to defend Australia.
  5. By TERRY WALLACE and JONATHAN FAHEY; Associated Press Writers
    Published: 10/10/10 6:03 pm | Updated: 10/11/10 3:58 am

    DALLAS – China's state-owned offshore oil and gas company has bought a one-third interest in 600,000 acres that Chesapeake Energy leases in a South Texas oil and gas field.

    CNOOC Ltd. and Oklahoma City-based Chesapeake announced the deal worth up to $2.16 billion Sunday in the Eagle Ford Shale project between Laredo and San Antonio. A joint statement says CNOOC will pay Chesapeake $1.08 billion in cash at closing and share 75 percent of Chesapeake's drilling and completion costs up to another $1.08 billion.

    Chesapeake expects to produce 400,000 to 500,000 barrels of oil equivalent per day at the project's peak.

    For Chesapeake, the deal provides capital to put towards drilling and other aspects of its Eagle Ford operation. For its part, CNOOC is looking to tap into the expertise that Chesapeake has used to cheaply tap reserves of oil and gas buried deep in shale rock formations. Chesapeake has entered into similar deals with other foreign oil and gas companies like Statoil of Norway and Total of France.

    Chesapeake chief executive Aubrey McClendon said in an interview that CNOOC probably wants to "see how an American independent (oil and gas company) conducts its business and learn a few things along the way."

    Chesapeake currently has 10 rigs developing its Eagle Ford lease. The additional capital from CNOOC should allow it to boost that total to 12 rigs by the end of this year, 31 rigs by year-end 2011 and about 40 rigs by year-end 2012.

    McClendon said he expects the deal to result in 20,000 new jobs.

    The Eagle Ford shale is expected to contain mostly oil and natural gas liquids, as opposed to strictly natural gas. Chesapeake is in the midst of an effort to expand its shale oil drilling operations.

    The development of cheaply accessible natural gas resources by Chesapeake and others has pushed natural gas prices to below $4 per 1,000 cubic feet. It is far more profitable to instead drill for oil, which is trading above $82 per barrel.

    The deal is the second in as many days for CNOOC. It announced Saturday that it has bought 2.6 million tons of liquefied natural gas from French utility GDF Suez.
  6. da-net


    China's Investment In West Jumps 6-Fold

    BEIJING (Nikkei)--China is gobbling up companies and assets abroad, casting a keen eye on resource-rich nations but also showing a voracious appetite for investing in the U.S. and Europe.
  7. Thanks for the replies and the links.