Oh lovely – even more reasons to be afraid in this recession. The Gray Lady is reporting that China is spending money like a drunken sailor and buying up all sorts of commodities. The scary opening quote reads as follows:

China is taking advantage of the economic downturn to go on a major shopping spree, investing in energy and other natural resources that could give it an economic advantage it has never had before.

Basically, the gist of the article is that while the rest of the world is going bankrupt, China is buying up all sorts of stuff so that when things finally turn around, which they always seem to do as everything is cyclical, it will be in the supremo driver’s seat. Lovely. I think I said that already but still, it bears repeating. China is 5,000 years old and will outlast us. This could be an after midnight rant but I’ve been scared of China for quite some time now and this is just article is another example of why I’m not just some paranoid crazy loon…