Discussion in 'Current Affairs, News and Analysis' started by PartTimePongo, May 21, 2007.
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What do Blackstone do?
They are a Private Equity firm who have do Venture Capital work, Real estate investment and a host of other money making ventures. They are not publically traded and this particular firm has some good stats for a Private Equity firm:
The Blackstone Group website: http://www.blackstone.com/private%5Fequity/
From the Financial Times via GATA.org:
The decision suggests that China is testing the water for a much bigger investment in private equity. It could open the floodgates to a tide of money flowing into the sector at the precise moment regulators are becoming concerned it may be overheating.
Private equity has been one of the best-performing asset classes in recent years, attracting record investments. But the industry's increasingly prominent role in the economy and its ownership of companies employing tens of thousands has drawn scrutiny from politicians, regulators, unions, and the media.
Economists perceived the news as China's response to pressure to raise the value of its currency against the dollar before next month's G8 summit, where the renminbi's level is set to be discussed. China has announced some monetary tightening measures, to include an interest rate rise and widening of the daily trading band with the dollar.
"China preparing to trade U.S. bonds for equities in a big way"
Created 2007-05-18 23:43
I might add to the foregoing explanation: The Chinese might be feeling nervous about the future value of their huge reserve of US Treasury bills and other dollar-denominated debt securities.
They might hope to acquire something that they feel will possess more enduring value.
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