China Goggles…

by Ashby Monk

A late night last night with Dr. Larry Wortzel chatting about the CIC and China. According to Dr. Wortzel, you simply can’t understand the CIC without understanding China’s broader national strategic economic objectives, which seems to be a recurring theme during our DC meetings. Dr. Wortzel suggested that the CIC should be viewed through a sort of ‘China goggles’–which is another way of saying that general concerns about China’s economic policies should also be ascribed to the CIC. Indeed, while sympathetic to the view that the CIC must make a financial return, he was convinced that investment decisions within the CIC would be political.

True or not, the perceived threat of the CIC to the West does not seem to be the same as other SWFs, such as ADIA or GIC, for the simple fact that China raises more suspicion than other governments. So, I wonder if what we learn over the next few months with respect to China and the CIC will be generalizable to other SWFs…or it may be that each SWF we analyze over the coming two years will present similarly unique characteristics rooted in their respective economic geography. We shall see…

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This website is a project of Professor Gordon L. Clark and Dr. Ashby Monk of the School of Geography and the Environment at the University of Oxford. Their research on sovereign wealth funds is funded by the Leverhulme Trust and The Rotman International Centre for Pension Management.

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