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Forget gold: This is how China is fleeing the dollar, Part II
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Tuesday, July 14, 2009
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From Newsmax:

China's purchase of a C$1.74 billion ($1.5 billion) stake in Teck Resources may be just the opening move from the world's top resource consumer in a strategy to use its unique wealth advantage to become a key source of mining capital for Canadian firms.

Teck said last week it sold a 17.2 percent equity stake to state-owned China Investment Corp in a deal that allows the Canadian miner to pay down its massive debt while expanding China's portfolio of commodity investments.

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More on China and commodities:

Why China should lie about its dollar holdings

Forget gold... this is how China is fleeing the dollar

Coming Collapse of China, author: China's economic stats are a sham

Topics: China | Commodities
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