Thursday, March 19, 2009

China on buying spree for strategic mineral and energy assets

Well, the Washington Post has picked up on something that many of us have been watching for a long time - China is buying up strategic mineral and energy reserves all over the world, and the current depressed global market for commodities has provided them an opportunity to snap up bargains.

The Post reports that "The deals have allowed China to lock up supplies of oil, minerals, metals and other strategic natural resources it needs to continue to fuel its growth. The sheer scope of the agreements marks a shift in global finance, roiling energy markets and feeding worries about the future availability and prices of those commodities in other countries that compete for them, including the United States."

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