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Sovereign Wealth Funds Briefing - Categorized | Financials, Market

China’s ’state capitalism’ sparks a global backlash

Posted on 16 November 2010

From WSJ: China’s sovereign-wealth fund bought 20% of GCL-Poly for $710 million. Today, China makes about a quarter of the world’s polysilicon and controls roughly half the global market for finished solar-power equipment.
Western anger with China has focused on Beijing’s cheap-currency policy; President Obama blasted the practice at the G-20 summit in Seoul last weekend. Mr. Zhu’s sprint to the top points to a deeper issue: China’s national economic strategy is detailed and multifaceted, and it is challenging the U.S. and other powers on a number of fronts……………………………………….Full Article: Source

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