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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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From: The Vet	11/11/2007 8:04:45 PM
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While the rest of the world plays "pass the parcel" with worthless paper, the Chinese are using their accumulated depreciating fiat to buy real companies with real assets... THE London press reported yesterday that China Development Bank has been quietly buying Rio Tinto shares, under the feet of BHP Billiton. "It is the first time a Chinese state-backed group has taken a direct stake in a global miner and will fuel speculation that China may intervene in the bid battle," the Sunday Telegraph reported. Similarly, the financial markets of London and Wall Street are awash with talk of a rival Chinese bid for Rio. theage.com.au

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