Gordon Brown, Chinese Sovereign Wealth Funds, UK Trade Relations
Prime Minister Gordon Brown traveled to China to encourage sovereign wealth funds to invest in the United Kingdom. The proposed deal involves opening trade routes and potentially purchasing bonds for Northern Rock in exchange for Chinese access to UK markets. The Financial Times reports that Britain intends to reciprocate with luxury goods, financial services, and the English language.
gordon brown· china· sovereign wealth funds· northern rock· rolls royce· financial times
00:01 Welcome to the show that needs no introduction because we have absolutely no agenda coming to you from the United Kingdom in the curry Manor I'm Adam curry, and I'm John C. DeVorek from actually sunny and warm, California Oh nice to hear nice to hear so we just hit record I probably should have started two minutes ago as usual because Patricia came upstairs the minute I hit record and then I stopped it like a fucking fool and Because there's a... I was reading the Financial Times and they were like, there's two stories on one page that I thought was just funny. And I wanted to read them to you. And I was looking for it and she... of course Patricia had already taken the paper and the cat was pooping on it.
00:42 But, and they said, yeah, don't worry about it. And so I said, I remember what I was going to talk about. But then, you know, wait a minute, you know, don't doesn't the cat normally poop on the, on, on, on the, on the times of London as opposed to the financial, the daily mail, no, no, no, the daily mail, daily mail. That's it. I love the finance, the financial times weekend is, is I look forward to that. It's a real time. And maybe I might, might just an old fashioned guy that I look forward to that. It's almost like school. It's one of the, it's really an outstanding paper. I like it. I agree. You want me to just tell you these two stories that were on the same page that I thought was interesting? Yeah, sure. Okay. So the first one is, and I don't know if you've been following this, but Gordon Brown has basically gone over to China, Gordon Brown being the Prime Minister of the United Kingdom, and he's basically said, hey, all these sovereign wealth funds you guys have set up, why don't you start investing that over here and we'll open up all kinds of
01:37 trade Roots and everything can can be copacetic and oh by the way we have Northern Rock we wouldn't mind if you maybe bought some bonds that were you know turning that into so And then we'll let you sell products here and and essentially he's saying the UK in return for all this money and Chinese products that will be coming in the UK will reciprocate with It was interesting the way the Financial Times wrote it. With Britain's luxury goods, like Rolls Royce, financial services and the English language. So that's the Chinese money is flowing in now, saving the city, the financial city.
