China’s Central Bank recently made waves in forex markets when it
created several state-owned organization charged with investing a
portion of China’s $1.2 Trillion in forex reserves. Scant additional
information was released until last week, when it was revealed that the
first major investment would be a $3 Billion stake in The Blackstone
Group, which is planning an Initial Public Offering. While it should be
clear that China is taking its plan to diversify its reserves
seriously, the news should come as a partial relief to Dollar Bulls,
because in this case, the diversification will not involve the sale of
USD.
Read More: Blackstone details float as China
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