Is China Inc.. intent on buying the world ? It sure looks that way. Just in June and July, Chinese companies from oil refiner Sinopec to carmaker Beijing Automotive and appliance giant Haier have invested or shown interest in investing in oil fields in Iraq, GM's Opel car business in Germany, an upscale appliance maker in New Zealand, and a Japanese department store. The sums involved range from tiny ($50 million for Haier's 20% stake in the New Zealand appliance maker) to hefty, at least by Chinese standards: Sinopec paid more thanrn$7 billion for a Swiss oil company. A rumored bid for a Spanish-owned Argentine oil producer would be twice that.
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