Friday, August 01, 2008

World Capitalism

"By 2012, sovereign wealth funds will have about $7 trillion to invest worldwide," Peter Barker-Homek predicts."That equals US GDP."

"These funds are un-transparent," says Jeremy Warner."They're frequently run either directly by government officials or by government cronies. So although we have not yet seen any cases of outright abuse, it's quite possible that we'll get them and, in fact, I think it is extremely likely over the next five to 10 years."

SOVEREIGN FUNDS BY ASSET SIZE
United Arab Emirates: $875bn
Norway: $380bn
Singapore: $330bn
Saudi Arabia: $300bn
Kuwait: $250bn
China: $200bn
Singapore: $159.2bn
Libya: $50bn
Qatar: $50bn
Algeria; 442.6bn

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