Bill Belew has raised 2 bi-cultural kids, now 34 and 30. And he and his wife are now parenting a 3rd, Mia, who is 8.
China
China has a massive amount of foreign exchange reserves….massive as in 1.066 trillion dollars. That’s trillion with a T and dollars as in U.S. dollars, not yuan. Do NOT divide that number by 7.7538465.
The current amount is five times what it was five years ago and is expected to grow. Yup…just leave it sit and let it grow interested at 1% and it will grow $10 billion every year.
China already is:
1. allowing businesses to keep more 0f their foreign income
2. encouraging overseas investment…even Microsoft or Google could be bought without putting a significant dent in one trillion dollars!
3. giving overseas investment quotas to 15 banks totaling $13 billion
4. giving overseas investment quotas to insurance companies totaling $5 billion
5. planning to buy/import more technologies and resources…spend, spend, spend
How about:
1. investing in the education of its rural countryside
2. accelerating its non-dependence on fossil fuels…more nuke plants, greener
3. buying materials and manpower to build its cities’ infrastructure
4. spending in developing Africa
5. giving me a couple of million…they will never miss it and I could sure it.
China has money burning a hole in its pocket and nobody wants to play shop.
How do you think China should spend its foreign exchange reserves?
