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China Buys Greece
China is hunting for bargains in some unlikely corners of the world. Earlier this week, it opened its checkbook to make 14 commercial investments inside Greece, which is struggling to avoid defaulting on its mounting debt.

China's vice premier Zhang Dejiang signed off on each contract, securing deals in major industries such as telecommunications, real estate and shipping during his four-day visit to Greece, which began on Monday.

Chinese investments in Europe have been relatively insignificant in recent years. But its deals with Greece paint a new picture of China's financial landscaping. According to Greek officials, the 14 deals signed this week mark China's largest foray into investment in Europe. And there will likely be many more to come.

China's brokered deals with Greece point to its ulterior power playing and market building strategy. It is getting in on the cheap in a region that's economically depressed and at the same time, it's purchasing a favorable reputation in Europe and around the world. It is making a stealthy land grab.
China has been making stealthy land grabs for the last decade. How much of Canada's oil sands production do they own? How much of Venezuela, of Africa, what did they purchase in Afghanistan by bribing that official?

Posted by: Anonymoose 2010-06-20
http://www.rantburg.com/poparticle.php?ID=299300