I should be excited. But I’m not sure. The Chinese media are reporting a sudden increase in Arab arrivals to Shanghai’s international airport in the past month. One article says: the Arab traders have finally woken from their “winter’s sleep”. Is the Middle East back? Its oil that drives the Middle East’s economy, and oil [...]
Gallery Archive
If Only The World Spoke “Hunanese”
It hasn’t been an easy year for the Silk Road’s largest investors. Their big-ticket purchases once caught the media headlines. But a number of their acquisitions are now struggling. I think China’s Wang Qishan, a Vice-Premier and former Beijing-mayor, best sums up the challenges. Wang was speaking to Xiang Wenbo, president of Sany, a machinery-maker based [...]
Dubai’s sucess is built on decisions take over the past century, not the past decade
There’s a lot of chatter about Dubai at the moment. I’ve had my say. (Yes, I’m still a big fan). So have others in the Financial Times. But it’s also good to get some perspective on the issue. Christopher Davidson’s “Dubai: The Vulnerability of Success” offers just this in his review of Dubai’s history. The [...]
Copper and Mercedes-Benz. The Silk Road’s investors buy their own growth story
I find this intriguing. The Silk Road’s sovereign wealth funds burnt their fingers in 2008 on mainly financial stocks. But they are now sticking to things that they need―specifically, commodities and Mercedes-Benz. Take China’s State Reserve Board for instance. It’s a recently big buyer of copper. In fact, its purchases were a major reason for [...]
China extends a helping hand to its cash-strapped neighbors
China is using its vast pool of funds to help out its Silk Road neighbors. First, it has recently signed a series of bilateral swap agreements with central banks in Hong Kong, Korea, Indonesia, and Malaysia. The agreements are worth between $20 billion to $30 billion. Second, it has offered Syria a $37 million loan [...]
Land Is The New oil
Land is the new oil, just ask Saudi Arabia. O.K., Saudi Arabia has plenty of land, but it isn’t easy growing wheat and rice on largely rocky desert. So, the country has to import a large share of the food it consumes, and that’s a problem when the price of food soars. Saudi Arabia has [...]
More Paid Holidays, Please
Chas Freeman, President Obama’s choice for Chair of the National Intelligence Council, withdrew his candidacy last week. I admit to taking a personal interest in this as Freeman has written an endorsement for my book. But, most importantly, he is a smart and engaging individual. He was also President Nixon’s translator in Beijing and a [...]
A Very Special Club
Egypt, welcome to the club. It used to be only developed economies that suffered from collapsing auto sales. So, I was surprised to learn the other day that Egypt’s annual car sales have plummeted from 250,000 to 85,000 in the past six months. I imagine there are thousands of unsold cars parked in lots outside of [...]
“China cheat sheet helps investors survive”, Bloomberg, September 1, 2010
“No more silver bullets for Beijing”, Wall Street Journal, June 17, 2010
“China’s historic return to the Gulf”, Foreign Policy, April 2, 2010
