More talk the last night about China getting out of U.S. Treasuries.
On the Q1 conference call for U.S. power major Duke Energy, management discussed the possibility of partnering with Chinese companies to develop electricity assets in North and South America.
Duke CEO Jim Rogers said that Chinese power companies "have demonstrated a great ability to build new [generating] facilities and build them fast, and to build quality facilities." He noted, "Clearly we see partnerships making sense."
Questioned about the rationale for such a partnership, Rogers noted that Chinese companies are looking for ways to improve their returns on the trillions of dollars they have currently tied up in U.S. Treasury bonds.
U.S. Treasuries
Wow...
"So clearly, from that standpoint, we see partnerships making sense. I do envision over a longer period of time that they can participate in the joint ownership of nuclear plants or maybe the joint ownership of coal facilities or even the joint ownership of a utility within the US. So again, I do think that these are opportunities that are on the horizon, and we're certainly not ruling any of them out as potential opportunities."
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