The winds of change blow as China Invests in US wind farm
For years, the flow of investment between the US and China was pretty much a one-way street. Not anymore; after the first ginger steps, Chinese communist/capitalist enterprises are delving deeper and deeper into the bowels of the US economy. The latest venture by a consortium of Chinese banks has injected $750 million dollars into a 600-megawatt wind farm project in Texas, in return for 49% of shares, as well as, crucially, a production contract for all 240 turbines to be manufactured by A-Power Energy Generation Systems from Shenyang. US nationalists are screaming foul over the fact that $450 million for the project is about to be paid from the US government stimulus programme, but the fact remains that A-Power is listed on the Nasdaq. Read more: BusinessWeek, New York Times
Become an Insider