U.S. fears overseas funds could ‘buy up America’

By Steven R. Weisman
The International Herald Tribune
August 21, 2007

WASHINGTON: For years, the Bush administration has shrugged off concerns about the trillions of dollars that the United States owes to China, Japan and oil-producing countries in the Middle East, arguing that these debts give no undue leverage to foreign governments.

But at a time of global financial instability, the administration has started to worry.

U.S. concerns – like those of many European policy makers – focus on a growing but little understood trend of foreign governments converting their debt holdings into “sovereign investment funds” ….

Read it all:
http://www.iht.com/articles/2007/08/21/america/wealth.php?page=1

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