China Slams Western Financial Firms

October 21, 2010 By

By Mike Caggeso
Associate Editor
Money Morning

China’s $200 billion sovereign wealth fund, China Investment Corp. (CIC), doesn’t plan to open its wallet to foreign financial firms and banks any time soon.

Still mindful of losing about $6 billion of the $8 billion CIC invested in Morgan Stanley (MS) and Blackstone last year, chairman Lou Jiwei not only bluntly rejected the notion of putting the government’s money into banks outside of its homeland, but did so citing an overwhelming fear.

“I don’t dare to invest in financial institutions now,” Lou, said today (Wednesday) at a conference in Hong Kong, Bloomberg reported. “The policies of the developed nations on these institutions are not clear. Until they are clear, I don’t dare to invest in them. What if they go bust? I will lose everything.”

< [Read more...]

Filed Under: Articles Tagged With:

U.S. Economy Continues to Frustrate Investors

October 21, 2010 By

 

It is Friday, and there is not much to report.  Lots of red appears on my watch list and and a sigh of frustration escapes my mouth.  Yesterday it was reported that the unemployment rate continues to remain at 9.5% with figures showing less improvement now than earlier in the year, hinting at a slowed recovery.   It would seem that each day a new figure is released that swings the market wildly one way or another, making investment decisions very difficult.

One day were climbing out of the recession, and the next, our economy is undoubtedly headed for a double dip.  This morning the market dropped drastically, regaining about half of its losses by lunch.  International markets continue their decline as confidence in the U.S. economic recovery lessens each day.  The FTSE, DAX, and the Nikkei  all closed low especially Japan, closing down 183 points.  It has also been reported that China has begun to offload our Treasury bills, selling off its [Read more...]

Filed Under: Articles Tagged With:

Medium voltage (3kv, 6kv, 10kv) frequency inverter in China

October 21, 2010 By

Medium voltage (3kv, 6kv, 10kv) frequency inverter in China

Several years ago many manufacturers of frequency inverters (variable speed drives) in China existed. We all know, frequency inverters firstly emerged for process control in the production line. Now they are widely used for energy saving for the motors. The China economy is developing fast, even in 2008, in 2009, in these 2 years many countries in the world met the biggest economic decline. Surely more and more motors are applied in the industry to support the growing economy in China. China is in the big demand for the energy. But how can China get more and more energy with less money? The answer is no way. Frequency inverters can play a big role in energy saving for the motors.

But many companies in China don’t manufacture frequency inverters which voltage range is above 3,000 voltage. As a professional supplier of medium voltage variable speed drives in China, [Read more...]

Filed Under: Articles Tagged With:
« Older Posts