If you chanced upon the weekend edition of The Wall Street Journal, you no doubt saw a rather lengthy article about China's political and business systems. In the interest of time and space, I won't try to duplicate the piece, except to note that it's entitled "China's Private Party," and to suggest that you spend a few minutes finding and reading it.
For my money, the salient quote in the article tells us that "Today's [Chinese Communist] Party is all about joining the highways of globalization, which in turn translates into greater economic efficiencies, higher rates of return, and greater political security." Even the youngest of Fools can recall when China was a secondary player in the world of global business. But now it seems that nary a week passes when some Chinese government-sponsored entity fails to make a sizable energy deal somewhere in the world.
As last week came to an end, for instance, it was announced that Chinese oil companies CNOOC
At just about the same time, it was disclosed that China and Nigeria had reached a preliminary agreement to spend $23 billion to build three oil refineries and a petrochemical complex in the West African nation. A number of details, such as the financial terms and the ultimate operator of the facility, haven't been determined. But while western oil companies such as ExxonMobil (XOM) Chevron
And while there are other deals that we could talk about, such as China's pumping funds into Brazil, Kazakhstan, and Russia, I remain intrigued by China Petroleum & Chemical
So, especially where it involves energy, keep China in your sights. I remain especially attracted to CNOOC. As the country's largest offshore operator and an active acquirer of properties of late, it appears most capable of enjoying benefits around the globe.