China May Invest in Bargain US Real Estate

How one country ducked the economic downturn

(NEWSER) - Australia has weathered the financial crisis better than any other developed country. Last week its central bank raised interest rates, indicating its primary concern is now inflation, not growth. What were the keys? Phil Dobbie of BNET explains:

• Befriending China: Australia used to export much of what it made to the US and UK, but over the last decade much of that trade has shifted to China. In fact, some economists argue that Australia didn’t need a stimulus package—Beijing’s stimulus was enough.

But avoids major US holdings in hunt for healthy returns

(NEWSER) - China's colossal sovereign wealth fund has steered clear of buying large chunks of US firms as it seeks better returns on its portion of the country's $2.4 trillion in foreign reserves. An SEC filing released yesterday shows that the $300 billion fund holds a relatively low $9.63 billion in equity US-listed companies, AP reports. More»

Construction in China boosts US business, from steel to fried chicken

(NEWSER) - While Americans await the fruits of their $787 billion bailout, China is moving ahead with public-works projects at a staggering pace, pumping up its own economy as well as America’s, the Wall Street Journal reports. US industrial-equipment makers, struggling with effectively zero domestic growth, are back near record levels in China, where, for example a $930 million bridge project began just 11 days after approval. More»

(NEWSER) - The global economic crisis is raising the threat to national security, the Washington Post reports. Experts and intelligence officials worry that mounting inflation and unemployment in Third World countries could spark radical movements and destabilize friendly governments. What’s more, strained budgets in the West mean less money to spend on the military and technology to counter the new threat. More»

Natives became angry after property values spike

(NEWSER) - Sorry, rich folks. Singapore apparently has enough millionaires for now and is no longer holding the door open quite so widely to attract more from other countries. The nation is scrapping a program that allowed wealthy foreigners to get fast-track permanent residency provided they kept enough money in Singaporean banks for five years, reports BusinessWeek . More»