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Article: China moves in on world resources ; BP is the latest company targeted by Chinese sovereign wealth funds that are investing in natural resources around the world. And, unlike other countries, Britain is welcoming such investors with open arms. Stephen Foley reports
- Article from:
- Belfast Telegraph
- Article date:
- April 16, 2008
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Copyright informationCopyright 2008 Belfast Telegraph. Provided by ProQuest LLC. (Hide copyright information)
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In many quarters in the West, the emergence of sovereign wealth
funds (SWFs) from the developing nations of the Middle and Far East
has been met with alarm, and by alarmist political rhetoric. In the
US, for example, it is also being met with real political
resistance, and even out-and-out protectionism.
But Mr Darling? Quite the opposite. "Our view is that investment
from abroad, whether it's private sector or a sovereign wealth fund,
is welcome, provided it is done on a commercial basis," he said.
BP, too, was gushing. "We are a publicly traded company and we
welcome all shareholders," it said.
Mr Darling is, in fact, on a mission - inaugurated in January by
Gordon Brown, when he visited ...