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

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To: mishedlo who wrote (62508)	1/22/2007 3:09:11 AM
From: TobagoJack	Read Replies (6) of 116555

Mish, headsup all over the media already, and it looks like there will be a buyer of USA equities before, during and then after the biblical collapse, to turn American companies into Chinese companies, funded by the Japanese and enabled by spendthrifters who used to own multiple home :0) From HSBC e-mail: "Monday 22 January 2007 ----------------------- * China will set up a separate state investment agency to invest a portion of its FX reserves into global equity and other assets * It will continue to deploy some FX reserves to bail out domestic financial institutions * This should help to preserve the value of its reserves and slow growth in the central bank's FX reserve assets CHINA'S STATE INVESTMENT AGENCY China will establish a separate state investment agency this year to manage part of its FX reserves in a more return-driven manner. This was one of the key decisions made by Premier Wen and his financial team, announced at the close the National Financial Work Conference on Saturday. This top-level meeting has also set the following policy goals: * Recapitalise and corporatise Agricultural Bank of China, the most problematic lender among the big four state banks. * Transform policy banks into commercial banks. China Development Bank will be the first one to become a commercial entity and the restructuring will be completed in one year. All government-directed financial business will be conducted through a bid-and-tender mechanism. * Expand the role of corporate bond markets. * Establish a deposit insurance system that covers all financial institutions with deposit business. * Maintain absolute controls over state-owned banks."

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