Pondering Minstrel

Thursday, June 23, 2005

WHAT DOES THAT HAVE TO DO WITH THE PRICE OF TEA IN CHINA?

Soon, the price of tea in China may be something we're all watching. The Chinese have drawn battle lines in their bid to take over the world, economically.

The end of 2004 saw the sale of IBM's PC division and "Think" trademarks to Lenovo, a Chinese PC giant, for $1.2 Billion USD. This acquisition made Lenovo the third largest PC manufacturer in the world.

Last week, Haier, a Chinese appliance manufacturer was reportedly considering making a bid for struggling US appliance manufacturer, Maytag. Today, there are reports that Chinese National Offshore Oil Corporation (CNOOC), one of China's largest state-controlled companies, made a takeover bid of $18.5 billion for Unocal. CNOOC's stock price is up today on those reports.

Maybe we'll all be learning Chinese in the near future.


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