Good morning, New York! I come bearing news...
- The China Investment Corporation was at the Oscars? Actually, yeah.
- There’s apparently $2.2 trillion in Latin American institutional investors.
- Hillary Clinton is still talking about sovereign wealth funds: “I would like to talk candidly about the challenges countries face from the emergence of what has been called “state capitalism”—the rise of sovereign wealth and the growing presence and influence of state-owned and state-controlled enterprises that operate globally...Of course, every nation will decide how involved its government should be in its economy. But for our interconnected global economy to grow together, and for all countries to keep faith in the system, we need to work together to ensure that all companies compete by the same set of rules. When favored state-owned or state-supported enterprises enjoy preferential access to government resources and special protection from competition in their markets, that harms foreign competitors and local entrepreneurs alike...Several years ago, when sovereign wealth funds began to increase their presence around the world, governments and the private sector came together and developed the Santiago Principles, a code of conduct designed to reassure the world that sovereign wealth funds would act transparently and focus on growth rather than other purposes.”
