Analysts split over what impact Beijing’s $300 billion investment arm could have on world markets.
By Chris Zappone, CNNMoney.com staff writer
March 30 2007: 3:08 PM EDT
NEW YORK (CNNMoney.com) — The Chinese government’s investment agency, being formed to invest a portion of China’s staggering $1.07 trillion in foreign exchange reserves, will reportedly have enough money in it to buy a company the size of Wal-Mart or Citigroup outright. …..
Buying Citi? Cool, would that mean the stock price would go up a bit at least? I know expecting GS’s type of growth is unrealistic, but come on, lets move north a little. Would the Middle Kingdom replaces Prince, should they buy it? I sure hope so, :). Does anyone still remember Jamie Dimon, the young kid who was the heir apparent to Sandy Weill? He was forced out after John Reed, who now heads JP Morgan after built up Capital One. I often wondered, did Weill force him out because the kid is just do darn good that the older man didn’t want to see any one who might surpass him? Prince in someway reminds me of Hua Guofeng to Mao Zedong: Mao picked one who’s far inferior.
The story I heard was at a company party, an old friend of Reed ignored kid Jamie, he got mad and went to after the old guy by grabbing his tie ..