| Sovereign wealth funds control some $4 trillion, and economic trends suggest some will become even wealthier. “In our integrated global economy, capital is going to move across borders,” points out Gordon Goldstein, one of the Brookings report’s co-authors. If the U.S. doesn’t embrace such global investments, he says, other countries will, and they will gain a competitive advantage.
Sovereign wealth funds represent a highly diverse universe of actors, Goldstein admits: “It would be a mistake to characterize them in broad-brush terms.” Not so long ago, nobody would have envisioned multibillion-dollar Chinese holdings in U.S. Treasury bonds..............................................Full Article: Source |