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January 7, 2004 -- The Chinese Are Coming:"Daddy, what do the Chinese do with all the money they get from us?

"Why son, they do the same thing that we've always done. They buy other people's assets. Only a few weeks ago Lenovo, the Chinese computer-maker, bought IBM's personal computer business for $1.75 billion. And now it turns out that CNOOC, the Chinese oil group, wants to buy Unocal for $13 billion."

"Golly, daddy, will our government let them do that?"

"We'll see, son, we'll just have to see. But remember, son, the Chinese hold $175 billion in US Treasuries, so -- well, we don't want to make them angry"


(aus Richard Russel's Tageskommentar vom 7.1.05)