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Texas to take big Hit on Investing in China

serfserf Member Posts: 8,873 ✭✭✭✭


 Sure is not a rising star anymore! I wonder how well all those pension plans will be doing after the pandemic!

                                                            serf

         https://www.houstonchronicle.com/news/houston-texas/houston/article/Texas-China-economy-oil-booming-growth-pipeline-15029569.php?utm_source=newsletter&utm_medium=email&utm_campaign=HC_MustReads&utm_term=news&utm_content=briefing



The risks of a Chinese downturn were made stark by the plunge in global stock and commodity markets over growing unease about China’s ability to contain the coronavirus outbreak. U.S. oil prices are down about 20 percent from last month on fears the virus will slow Asian economies and energy consumption.

Few regions of the United States have more at stake than Houston. China is already the region’s second-largest trading partner after Mexico. And China’s continued expansion means it would need more oil, liquefied natural gas and chemicals, products Texas produces and exports in abundance.



Comments

  • Ricci.WrightRicci.Wright Member Posts: 4,347 ✭✭✭✭
  • spasmcreeksrunspasmcreeksrun Member Posts: 1,762 ✭✭✭
    china is just moving their oil HOME.....they have large investment in Texas oilfields (one billion $$$$ for one)..seems we keep selling AMERICA off one chunk at a time
  • serfserf Member Posts: 8,873 ✭✭✭✭
    edited February 2020

     Well if you're dying of The Corona Virus then I suspect having the sky falling is very poetic to what's just is happening.
     You're having nothing else to say/write because, you can't. The facts presented cannot be refuted. Let's hope The  Texas teachers Retirement is still solvent after the pandemic is over.

                             serf
    Ratings agency S&P Global also reported that local authorities in China had amassed up to $6 trillion in “hidden” debt off their balance sheets, accumulated as they went on spending sprees to build roads, bridges and other infrastructure to keep economic activity in their regions in line with mandates from Beijing. “That’s a debt iceberg with titanic credit risks,” the report said.
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