books
take the money and run sovereign wealth funds and the demise of american prosperity
p in this book an expert in the field explains why the united states is the worlds largest debtor nation and how americas relationship to creditor states is of growing economic diplomatic and even national security concern . foreign countries are not merely investing in u.s. corporations but are purchasing them outright abu dhabi bought citigroup securities kuwait purchased a large block merrill lynch stock and china bought morgan stanleys convertible securities and this happened before the september 2008 meltdown of wall street . the means by which wealthy foreign states make these purchases are sovereign wealth funds their surplus capital that they are seeking to invest in order to generate the greatest return . currently the largest sovereign wealth funds are held by the united arab emirates of which abu dhabi is part norway singapore kuwait and the peoples republic of china ; qatar and libya are also in the top ten . the united states has no such fund although the state of alaska does . this book takes a close look at chinas and norways sovereign wealth funds to explain how they work . the author also uses domestic examples harvards endowment the californias state employees retirement fund to propose how the united states could create a sovereign wealth fund speculating that such a fund could solve the looming social security funds shortfall . most important the book elucidates the national security aspects of not having an american sovereign wealth fund when so many other nations both friend and foe have them .
hardcover praeger security international 2009 isbn13 9780313366130 isbn10 0313366136
abridged n isbn 13 9780313366130 number in series 1 number of pages 251 publisher greenwood pub group release date 62135769600000