| Milton Friedman's dictum is that the business of business must be only business. Until the Great Recession in 2008-09, sovereign wealth funds (SWFs) were viewed with suspicion in the West, driven by the belief that their business of business was not necessarily business, but political leverage too, wherever they bought assets.
Yet, the Recession changed all that. As the West's banking giants tottered on the brink of collapse, it was the Chinese, Singaporean and Persian Gulf SWFs that bailed them out, one after another, of the credit crunch...............................................Full Article: Source
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