60 Minutes: China Investment An Open Book? Sovereign-Wealth Fund’s President Promises Transparency

In the latest episode of 60 Minutes (Sunday, April 6, 2008), the weekly investigative news show does a segment on China’s Sovereign-Wealth Fund, which has about $200 billion in assets, in “China Investment An Open Book? Sovereign-Wealth Fund’s President Promises Transparency“. According to Wikipedia, “a sovereign wealth fund (SWF) is a state-owned fund composed of financial assets such as stocks, bonds, property or other financial instruments.” As much as one might want to hate and fear China, this segment reminds me a lot of “the Japanese are buying America” syndrome that was feared in the late 1980’s and early 1990’s, which of course, was severely overstated.