What China does while we waste resources and time.

I don't see how we will win this one. China makes smart moves in South America, where a great portion of the world's natural resources are.

In Argentina :

"ICBC gets approval for Argentine Standard Bank takeover"

ICBC, the world's biggest bank by market value, will take 80 percent of commercial lender Standard Bank Argentina and its two affiliates, asset manager Standard Investments and commercial service provider Inversora Diagnol.

Standard Bank will have its stake in all three firms reduced to 20 percent. Reuters reported on the takeover approval on Saturday, citing an official source who declined to be named.

This makes ICBC the first Chinese lender to enter Latin America's third-largest economy, where President Cristina Fernandex ordered banks in July to lend nearly 15 billion pesos ($3.1 billion) by year-end to finance investment in production.

www.reuters.com...

In Peru :

"ICBC Peru Branch Officially Established
The First Chinese Bank in Peru"

On November 27, 2012 (Peru time), ICBC celebrated the opening of ICBC (Peru) Company Limited ("ICBC Peru") Branch in an inauguration ceremony held in Lima, the capital of the Republic of Peru, signaling the establishment of the first Chinese commercial bank in Peru. ICBC Peru is the first wholly-owned branch of ICBC opened in South America, which further completes ICBC's global presence and improves its ability to serve customers around the world. Among the guests at the inauguration ceremony were ICBC Chairman Jiang Jianqing, the Central Reserve Bank of Peru Governor Julio Velardo Flores and Chinese Ambassador to Peru Huang Minhui.

Speaking at the inauguration ceremony, ICBC Chairman Jiang Jianqing said Peru has witnessed robust economic growth over the past few years. With a GDP growth of 6.92% in 2011, Peru is now one of the fastest-growing economies in Latin America. Since China and Peru established diplomatic relationship more than 40 years ago, bilateral trade between the two countries has gained momentum with closer exchanges in different areas, thus raising higher requirements for the banks of Peru and China working together. The ICBC Peru will act as a bridge for trade and investment, as well as a new platform for financial exchanges and cooperation between China and Peru, offering a full spectrum of excellent financial services to corporate clients and personal customers from the two countries.

www.icbc.com.cn...

All that, at the same time they do this too :

ICBC continues Middle East expansion

To open branches in Saudi Arabia and Kuwait, and invest in South Africa.

International and Commercial Bank of China, the country’s largest lender, said it has received approval to do business in in Saudi Arabia and Kuwait. It also said it has gotten local regulatory approval to buy a controlling stake in the Argentine unit of South Africa's Standard Bank, its longtime partner in Africa and Africa’s largest bank.

Opening branches in Saudi Arabia and Kuwait will allow ICBC to expand into those markets by offering renminbi settlement services for the huge amounts of oil that China buys from the region each year.

Most oil purchases are currently in US dollars, but both Saudi Arabia and Kuwait would almost certainly welcome some purchases using the renminbi to diversify their foreign currency holdings as the dollar steadily depreciates.

asianbankingandfinance.net...

I guess now we can say "Goodbye Dollar" without a doubt.

yep. the US just got played. Seriously I've been saying this was going to happen for a while. The Chinese don't play the same games we do. The US is like the high school jock. Big, strong, good looking, popular, influential. But China is more like the mass population of nerds in the high school. The jocks think they are winning but they only ever win the battle not the war. China is like the nerds slowly and methodically planning the jocks demise.

Don't believe me? Go to the next high school reunion and tell me who won. The nerds are the ones with the jobs, money and attractive mates.

The US is playing the game shortsighted like a jock and not playing long term like a nerd playing chess.

reply to post by BASSPLYR


Aren't most of the ex-jocks who failed to make it big now a major portion of the police forces out there? Makes you think...

PS- Just my opinion, no sources so don't ask.

reply to post by BASSPLYR


....And check what the president of the ICBC said (sorta scary, must say) :

Buying banks is “no rose garden. We consider it a battleground”. So says Jiang Jianqing, president of China’s ICBC, the world’s biggest bank (by market capitalisation, deposits and credits).

blogs.ft.com...

The U.S. is too busy trying to keep their own ship from sinking that they don`t have the resources to be expanding into new markets.we are witnessing history in the making, the downfall of a once great society.

Originally posted by Tardacus
The U.S. is too busy trying to keep their own ship from sinking that they don`t have the resources to be expanding into new markets.we are witnessing history in the making, the downfall of a once great society.

Right. Also amazing how this had been happening in front of our noses. See for example this other article from June 14, 2011.

Latin America has some of the world’s major energy and commodities supplies, so it’s no surprise that it is a very attractive place for resource-hungry China to do deals. And so it has racked up a staggering 286 per cent rise in investments in Latin America in from June 2010 to May 2011 compared with the previous 12 months.

blogs.ft.com...

I'm surprised this comes to most of you as a surprise at all. The years of American dominance and unipolar governance over the world are long, long gone. This is a whole new multipolar world, and as each day goes by, America's global influence -as proven by the Palestinian vote in the UN yesterday- wanes.

You want to find a culprit?

As Slovenian philosopher and anarchist Slavoj Žižek says, Bush deserves a Nobel Peace Prize for having eradicated the hegemony of the United States, he singlehandedly completely destroyed it.

Welcome to a world where you will find yourselves amongst your fellow human beings in equal footing.

america's track record in latin america is criminal.

they single handedly managed to keep it back decades. the monroe doctrine is responsible for literally hundreds of thousands of deaths in the attempt to keep their countries weak, divided and corrupt.

the reasoning behind it is to prevent a new world europe, where dozens of strong, financially secure states could threaten american dominance.

now, it has backfired. a communist country is about to exert a strong influence in the future development of latin america.

remember when communism was evil. instead of america creating strong, wealthy allies, it chose the complete opposite. american bigotry and racial superiority beliefs are leaving it alone in the world.

its only a matter of time.

In case you don't know Argentina defaulted on their debt in 2001. Their economy is in disarray, crime is through the roof down there, and they had a flagged Navy ship repossessed this year by a Cayman Island bank

Buying up Argentina is like buying a Detroit with an earthquake problem.

I think a lot of you might be reading Peter Schiff and he is wrong about China. The Chinese economy is a ponzi scheme that needs to constantly absorb new assetts to pay off existing debt. It is a system filled with evergreen loans and empty cities. At this point they are building things just to keep people in work, because 5% unemployment in China is 70 million people without jobs, hanging around, and getting agitated.

We're screwed includes the Chinese.

Yeah take America out back and beat the crap out of them..




Really people chill out.
You have no idea where the world is headed or how things will end up. Multipolar worlds are actually more dangerous. Sooner or later the two biggest kids on the block will end up fighting to see who is the baddest.

Doubt it?

It's called human history.
Check it out

Are people really cheering for the communist take over of the world?

Yep like was said sooner or later the 2 baddest kids on the block with come to blows.

History has proven that numerous of times.

Go back to the 1980s and change China to Japan and it is the same exact thing over again. People get so freaked out by up and coming manufacturing based economies who's sucess is based on cheap labor. They have huge amounts of cash and buy up a bunch of stuff while flush with cash and when their economy hits the wall where increasing wages force them to change to a service/tech based econonmy and they are desperate for cash they sell all that at a loss. China is just the latest after them it will be India or Vietnam and people will be going on about the same thing.

Originally posted by SLAYER69
Sooner or later the two biggest kids on the block will end up fighting to see who is the baddest.

Doubt it?

It's called human history.
Check it out

Truth!


I know not with what weapons World War III will be fought, but World War IV will be fought with sticks and stones. ~ Albert Einstein

reply to post by SLAYER69


Probably right. In the way I see this, China is creating jobs in South America and helping its economy, and there is not an ocean in between to keep us away.

reply to post by Trueman


Yup, while the rest of us are sitting around bragging about how great our countries are via patriotic verbal vomit, China is slipping in there all stealth-mode like and sucking up the global markets and valuable resources.

Theway the worldis going, I'm going to start a company that makes white flags!

(please pay in yaun, dollars not accepted)

reply to post by GreenGlassDoor


Agree with you completely here.

China is all about perception, little about reality. The fact remains: the USA consumes twice the oil as China and imports 10 times the oil as China (added value: USA has managed to successfully play the energy import game for the past several decades, all while sitting on the Overall largest energy reserves in the world. If OPEC does opt to cast the dollar aside, screw 'em. Most estimates place America's recoverable potential reserves at levels high enough to allow the country to fully shun OPEC for the next half century.). China is a large, old, fat dog with a very loud and obnoxious bark and scarcely a tooth in its head.

reply to post by burdman30ott6


I hope you didn't write that post from a computer made in China.