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Crude shock lands Chinese oil majors on a slippery slick[1]- [Copy link] 中文

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Post time 2016-1-19 11:33:52 |Display all floors
Sinopec Group's international team work on a drilling rig in Sudan.[TONG JIANG / FOR CHINA DAILY]

Experts say despite past irrational overseas investments, spending may well continue as good deals are still possible

The year-end retreat by China Investment Corp, the country's sovereign wealth fund, from Canada's mining and oil-and-gas sectors, has raised concerns that past overseas investmen ...

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Post time 2016-1-19 11:33:53 |Display all floors
A disciplined, long termed and programmed strategy in investing is called investment. Putting all your eggs in one basket at one time is called gambling. This latter seems to be the problem with China. Everybody just wants to jump into a hot item all at once, whether its with manufacturing or buying assets, resulting in gross over capacity and investment duds as mentioned in the article. This is the mentality of a 'command' economy' ! I certainly hope that this will not turn out to be the case with the 'Belt and Road' call.

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Post time 2016-1-19 12:35:13 |Display all floors
The real reason Sinopec pulled out ... Canada wouldn't let them bring in Chinese workers at Chinese wages. They had to employ Canadian oil workers at Canadian wages, and they didn't like that. Waaaaaaaaahhhhh!!!

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