Friday, August 03, 2007

Public outcry on Blackstone losses

China has lost about 500 million US dollars of its 3 billion US dollars investment six weeks ago in Blackstone, causing public anger, writes the International Herald Tribune.
"O senior officials of the Chinese government, please do not be fooled by sweet-talking wolves dressed in human skin," said one of several Internet postings compiled by an anonymous blogger on Sina.com, a Chinese Web site. "The foreign reserves are the product of the sweat and blood of the people of China, please invest them with more care!"
In a sign that the Chinese government may be censoring criticism on the sensitive issue of government investment losses, the blogger's entry was visible on the Web site on Thursday afternoon but had disappeared by Thursday night. Other entries by the same blogger were blocked, but milder criticisms of the Blackstone investment could still be found.
"It is really alarming the speed with which the Chinese government entered into this investment," said another posting, signed as "anonymous person 586215," that remained on Sina.com through Thursday night.

1 comment:

Anonymous said...

Perhaps the Chinese are not familiar with concepts like "market adjustment" and "paper loss".

Anyway, 500 million is chump change, we Americans spent 2 Billion (big B) a week in Iraq for the last 5 years!