China to acquire a $3 billion stake in Blackstone group
The Blackstone Group is the second biggest private equity fund in the US. Notable holdings include T-Mobile, Freescale semiconductor (spin-off from Moto), Nielsen (famous for all the TV ratings and online metrics/market research). New York Times reports that the Chinese govt. is acquiring a stake worth $3 billion in the company. This is a great piece of news, an indicator of the shifting dynamics of the capital flow in todays global world. It also goes to show how increasingly aggressive the Chinese govt is getting. Last year, they aggressively pursued, invested and even bought several oil fields.
Now this is one area where India will never be able to beat China. When the honchos of the communist govt raise a finger, things definitely get done - and get done fast.
May 23rd, 2007 at 5:37 am
China shouldn’t even be called a Communist country .. they are more like a Capitalist Totalitarian regime. Acquiring a part of the Blackstone group is a definite sign of the economic aspirations, might and aggression of Chinese leadership.
Now today I read that they are actively opening up to NYSE and NASDAQ .. another brilliant move on their part.
May 23rd, 2007 at 9:34 am
Thanks to our fragile democracy, more time is spent in keeping the coalition together and worrying about the outcome of the next elections. Our leaders need to take a crash course or two from their Chinese counterparts.