Last Sunday, Beijing took another step in diversifying its mammoth US$1.2 trillion (that's 1,200,000,000,000) foreign reserve by purchasing a US$3 billion stake in US private equity giant the Blackstone Group.
Shanghaiist has a hard time keeping quiet whenever our favorite American politician, Senator Charles Schumer, starts up with his unattractive whining about China, and how "US companies are affected by China's unwillingness to play fair." While Shanghaiist will be the first to admit that China has a serious problem when it comes to reining in rampant intellectual property rights violations across a number of industries, Shanghaiist has to cry foul when Schumer's rant begins to enter the realm of specific restrictions against US investors in China:
Dear Slate, yes there are chocolate bars in China
Lot o' Hotpot: Three Travellers
Obama in China: Long gone, and still headlinin'
Interview: Kerry Ann Lee, culture shock = inspiration
Garbage burning protests: The online life of dissent
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