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Non-Tech : Trends Worth Watching

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To: Glenn Petersen who wrote (1025)	1/21/2008 5:40:21 AM
From: GUSTAVE JAEGER	of 3363

Re: With a growing share of investment coming from so-called sovereign wealth funds — vast pools of money controlled by governments from China to the Middle East — lawmakers and regulators are calling for greater scrutiny to ensure that foreign countries do not gain influence over the financial system or military-related technology. I think that talking of "sovereign" wealth funds is inaccurate as far as the Middle East and (Persian) Gulf states are concerned: what's the "sovereignty" of Saudi Arabia, Qatar, etc when those countries are home to 100,000 US troops on a regular basis and CENTCOM, the Pentagon's HQ for that world area?!? Arab countries' state-owned wealth funds are NOT sovereign: the day they pose a serious security threat to the US, the Pentagon will have the means to "remove" that threat... Contrariwise, China's and East Asia's wealth funds make up a whole another ballgame because they really are "sovereign". Sovereignty is about much more than just money. Gus Who's Afraid of Mideast Money? The men who manage the region's sovereign wealth funds are using the billions from Persian Gulf oil revenues to change the face of global finance by Emily Thornton and Stanley Reed businessweek.com

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