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...Mart and Carrefour are pressing to enter the market through joint ventures and by lobbying the government to change protectionist laws so they can set up wholly owned chains. The opportunities are immense. The McKinsey Global Institute, a think tank, estimates India's retail market will be worth $1.52 trillion by 2025, up from $370 billion in 2005. Though the relative importance of comestibles will shrink as people earn more disposable income, McKinsey estimates the food-and-beverage category will still account for 25% of all retail spending in 20 years...
...showing up in places like Equatorial Guinea, Cameroon, Chad - even perennial war zones like the Democratic Republic of Congo. With all that interest, Paul Lubeck, Michael Watts and Ronnie Lipshutz of the Center for International Policy, a U.S. think tank, calculate that the Gulf of Guinea will earn $1 trillion from oil by 2020 if the price stays above $50 a barrel. That's roughly double all the post-colonial aid to Africa since independence in the 1950s and 1960s...
Over the course of this year, China's government will find itself with more than $300 billion in new foreign-currency reserves, mostly dollars, that it will have to park somewhere. That's in addition to more than $1 trillion already in the bank. The oil-exporting countries of the world are in a similar predicament, with a trillion petrodollars looking for a home. Japan's got a trillion bucks lying around...
Ever since the late 1970s, America's appetite for foreign oil, cars and consumer electronics has resulted in trade deficits that can be financed only by attracting investment from overseas. Since 1986, the U.S. has been a net debtor--to the tune of $2.7 trillion...
...also announced it was taking a 10 percent stake in the Blackstone Group, the big U.S. private equity firm that is about to go public on the New York Stock exchange, indicating that Beijing would like to earn a slightly better return on at least some of its $1.2 trillion (and climbing) in foreign exchange reserves. But at $3 billion, the Blackstone investment is really just a drop in the bucket, while the economy-slowing moves on Friday may on balance serve to increase China's ongoing trade deficit by depressing its appetite for imports. Taken together, they signal Beijing...