SWF Radar HouseCommitteeOnForeignAffairs

Thomson Reuters reports that, “Sovereign wealth funds need to make clear their objectives to ensure that they are not using investments in the United States to advance a political agenda, experts told the U.S. Congress on Wednesday.”

The US House of Representatives’ Committee on Foreign Affairs has published the transcript of the oral testimony given today before it on sovereign wealth funds, oil and the new world economic order by Gal Luft of the Institute for the Analysis of Global Security (IAGS).

Gal Luft would appear to be in the same alarmist camp as Peter Navarro, saying in the conclusion of his testimony that, “For America, a continuation of the petroleum standard guarantees economic decline and perpetual economic and political enslavement to the OPEC cartel and its whims.”

The US House of Representatives’ Committee on Foreign Affairs has published the transcript of Edwin M. Truman’s oral testimony given today before it on the rise of sovereign wealth funds and the impact on US foreign policy and economic interests.

The US House of Representatives’ Committee on Foreign Affairs has put online the transcript of the oral testimony of Gerard Lyons, chief economist and group head of global research at Standard Chartered Bank, given before it today on the rise of sovereign wealth funds and the impact on US foreign policy and economic interests.

One passage that caught our eye states that, “[I]t is important to stress that there are some generic issues. Many of the concerns are not, strictly speaking, just about SWFs but are often more about government controlled companies. For instance, Russia's SWF [its National Wealth Fund] is relatively transparent, yet worries are very much focussed on Russian government influenced companies, such as Gazprom.”