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Wednesday, October 17, 2007

The Chinese Are Coming! The Chinese Are Coming!


ALBERTA ENCOURAGES CHINESE INVESTMENT:
Oct. 1ALBERTA 17, 2007 (China Knowledge) – Canada's Alberta encourages China to increase its investment in the oil province with many oil sand reserves, said a senior official from Alberta on Tuesday. Iris Evans, Alberta's Minister of Employment, Immigration and Industry, revealed in a press meeting at the Canadian Embassy in Beijing, that the more Chinese investments are expected to pour in.

CHINA’S CITIC BIDS FOR BEAR STREANS STAKE: REGULATOR
BEIJING
— — China's CITIC Bank Corp. Ltd. is bidding for a stake in Bear Stearns Cos. [BSC-N], a senior Chinese regulator said, in the first official confirmation of media reports that the state-run bank was a potential suitor for the smallest of Wall Street's five big independent brokerages.
Bear Stearns is among the institutions hardest hit by the U.S. subprime mortgage crisis, and Chief Executive James Cayne said earlier this month it would consider selling a stake to an investor from China or the Middle East if the deal created value.


ALBERTA IS GOING TO BE PLAYING A NEW ROLE IN THE GEOPOLITICAL REALITY AROUND ENERGY SUPPLY AND INVESTMENT: The new normal of globalization on markets and investments and the demand for energy in the developed and developing world will put Alberta's oil sands in the cross hairs of geopolitical strategic issues. We Albertans better beef up our Intergovernmental capacity.

Gary Mar going to be Alberta's guy in Washington is a good step in the right direction. There is lots more to be done and some changes need to be made - including changing the Minister - for us to be ready for this new normal.