China's Buy List

It's scooping up more commodities, continents--and soccer stars

While much of the world is in austerity mode, China will be spending. During the downturn in 2009, it upped purchases of coal, copper and iron ore, capitalizing on low prices. Its outbound foreign direct investment is still tiny, but talk that it is looking for alternatives to U.S. Treasury bonds to park its money have sparked speculation as to what China will buy next. Here are some possibilities:

Real estate.

China's frothy real estate market slumped in recent months. But wealthy investors who saw the decline coming have been putting their money in places like Australia, Singapore and Canada. The...

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