11.10.2010 - BRIC sovereign wealth funds: The external wealth of governments
From Commodities-now.com: Three of the four BRIC countries have established sovereign wealth funds (SWFs). The SWFs differ in terms of size, financing modalities and investment strategies. Only Russia can properly be said to have a savings fund. Brazil’s FSB might turn into one provided the expected surge in energy production and exports leads to both current and fiscal account surpluses later this decade. Among the BRICs, China holds by far the largest “excess” FX reserves. Equally significantly, China, and more specifically the Chinese government, will continue to witness a massive rise in gross (and net) foreign asset holdings over the coming years. Generally speaking, the large net position will afford China and the other BRICs with very significant scope to pursue economic, financial and political objectives – or various combinations thereof...........................................Full Article: Source