More of America sold to China as distressed assets

China Investment Corp, a $200 billion sovereign fund, is set to spend $2 billion buying U.S. distressed assets from property to infrastructure via three funds, including one managed by Goldman Sachs, sources briefed on the plan said on Tuesday. CIC’s latest swoop on U.S. assets comes after the state-owned investment vehicle lined up to invest …

Other countries place crisis blame on United States

At the World Economic Forum in Davos, China and Russia placed the blame for the global economic crisis on the United States. Most Americans would agree, and so do many other world leaders. The Chinese premier, Wen Jiabao, used stronger language, leaving little doubt that Beijing blamed the US for the economic breakdown. “Inappropriate macroeconomic …

First shots fired in global economic war

If subprime issues and tainted paper sold around the world didn’t start a global economic war a recent move might do so. Investors in bank debt are threatening to boycott lenders that follow Deutsche Bank in breaking an unwritten rule and failing to exercise a call option on subordinated debt. In a coordinated action, angry …