Still more of the same

Here is some recent economic activity by China as reported in today’s Wall Street Journal:

• Eyeing Unocal, the ninth largest US oil company.
• In talks to buy Noranda, the world’s third largest zinc and ninth largest copper producer.
• Could become a minority investor in a new Russian oil company.
• Will soon start exploration activity in Africa.
• Runs a major drilling operation in Sudan.
• Is the largest foreign direct investor in Latin America.
• Accounts for more than half the increase in world oil demand for the past two years.
  

Yesterday’s Journal talked about a proposed oil partnership between Saudi Arabia and India.

Do you get the feeling that there is a lot going on in the so-called less developed countries and the US is totally out of the picture except as a potential acquired company?