China - China set to plow huge currency reserves into crude oil

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China set to plow huge currency reserves into crude oil

Wednesday, March 04, 2009
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The Chinese government is considering a plan to direct some of its gigantic currency reserves into crude oil. It's the latest development on the trend of China using the global asset crash to snap-up mining shares, mineral deposits, and other raw material assets.

The scale of the buying isn't known yet, but just a sliver of China's $2 trillion in currency reserves would buy an incredible amount of oil.

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Topics:		China \| Commodities

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