The United States depends on China to finance a big portion of our federal budget deficit as well as USA's insatiable desire to buy everything under the sun on credit. Now China is planning to finance $682 billion holdings of U.S. government debt. This is an evidence of the real power shift and return of non-capitalist era. A decade back western countries was looking forward for China's democratic revolution but now Chinese government must be planning the vegence through lending. Here is a snapshot of chinese finance power:
- lends Russia $25bn for 20 years of oil
- US Morgan stanley with $5 billion cash infusion
- lends Venezuela 4.000 MM $
- lends African nations $3 billion
- lends Nigeria 2.5 bln usd
- lends US$1b to Vietnam
- lends Malaysia $800 million
- lends money to Thailand $400 million
- lends Cambodia US$200 million
- lends Argentina's National Bank $50 Million
- lends Kenya $120 million
- lends Rs 100M to Nepal
- lends $6.2 mln to Uzbekistan
- lends Cuba about $6.2 million
Other finance power Abu Dhabi has similar snapshot:
- lends $700 bln in shipping companies
- lends $300 Bln in real estates companies
- lends billions to Citigroup and Bear Stearns
- invests billions in Barclays
- lends $225 M to sharjah
- lends to Syria $148M
- lends to Sudan $100M
Plus many of top properties in London and newyork is controlled by Abu dhabi consortiums.
Honestly, western countries are fast becoming laughing-stocks for the way finance is managed. The two spells of Bush Snr & Jnr may have contributed to this disaster.
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