Louis G. Schirano: The US Congress reacted to the wrong Chinese threat: Sovereign Wealth Funds pose a far greater danger than devalued currencies. The West must pay attention to the leverage that China, Russia and others are building up.
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China’s £2 trillion of foreign currency reserves could help fix the financial crisis. ++ China is already the sixth largest outward investor. ++ “The era of Made in China is drawing to a close, the era of Owned by China is starting and we had better be ready for a rapid transition.” ++ Some countries are concerned Chinese investments could be used to seek political ends, but the “west needs
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