China’s massive investment fund China Investment Corp (CIC) is preparing for an all out commodities offensive on Brazil and Mexico.
They have already pumped over $10 billion into commodity-related companies during 2009, and that’s just the tip of the iceberg:
China Daily: CIC has had “early” talks for direct investments in Brazil, the world’s second-biggest iron-ore exporter, and Mexico, the No 2 silver producer, Chairman Lou Jiwei said at the Asian Financial Forum in Hong Kong on Jan 20. Lou pumped about $10 billion into commodity-related companies in the second half of 2009, according to data compiled by Bloomberg.
With China’s reserves at $2.4 trillion and swelling by an average of $37.8 billion a month last year, CIC has asked the government for another $200 billion, the Economic Observer reported on Nov 21, citing a person it didn’t identify.
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