of indirect interest

I posted this earlier today on one of the more general threads......it supports my own view that good mining stocks...and some specs...still have plenty of life in them. USA is passing the baton...but I am much more careful in the trading specs..altho trading actively.

"Great wall of money: $250 billion to flow from China
By Chris Oliver, MarketWatch
Last Update: 10:54 PM ET Nov 19, 2007
HONG KONG (MarketWatch) -- The money flowing from China into global equity markets could tally as much as $246 billion next year, with markets in Hong Kong and South Korea expected to benefit the most, according to HSBC Global Research.
"The great wall of Chinese money could be about to arrive," HSBC strategist Garry Evans wrote in a research report Friday.
HSBC says it reached the $246 billion figure using a formula that assumes China's foreign-exchange reserve expanding at between $30 billion and $40 billion a month, while appreciation of the yuan would be held to 7% against the U.S. dollar. The formula assumes that little of the money will head into global bond markets as the yuan appreciates rapidly and U.S. Treasury yields decline.
Chinese authorities have approved about $40 billion in outflows under the government's qualified domestic institutional investor scheme, comprising allocations granted to banks, mutual funds and insurance companies, HSBC wrote in the report. About $20 billion of those funds have been invested so far, mostly in Hong Kong stocks.
To manage the value of its currency, China maintains strict controls on the flow of funds into and out of the country. Institutions wishing to invest funds abroad must seek approval from state authorities.
HSBC said that next year Chinese authorities will likely approve $10 billion in overseas investments to mutual funds each month, while $67 billion will be invested through China's sovereign wealth fund, or China Investment Corp., and $27 billion will come from the "through train" investment scheme, which is likely to come into effect during the second half. Fund outflows that have been approved but not yet utilized will make up some of the remainder.
Hong Kong is likely to remain a favored investment destination for Chinese fund outflows next year, with HSBC expecting it will receive about $94 billion."