Author’s Note: The following is Chapter 44 of the my online book "Excited Delirium". Please post comments. Please tell your friends about this story. If you’ve missed a chapter, please click here for Chapter 1 (Prelude) or here for the full index .
HEADLINE: THE DRAGON IS BUYING … AND ITS ATM IS AMERICA
DATE: June 2008
SOURCE: International News Corporation (INC)
NEWS STORY – China’s Investment Corporation, the privately-held, state-run enterprise that manages the currency reserves of the Chinese government, now has cash reserves in excess of $US 1.7 trillion.
If you’re familiar with counting numbers that big, consider this: if you go by market capitalization, the value of a company based on its stock performance, $1.7 trillion is enough to buy most of the Top Ten companies in the United States outright .
