The New York Times has an article on China’s large ownership of

The New York Times has an article on China’s large ownership of American corporations. China’s sovereign wealth fund quietly snapped up more than $9 billion worth of shares last year in some of the biggest American corporations, including Morgan Stanley, Bank of America and Citigroup.

Although most of the stakes were small, China Investment Corp., the government’s $300 billion investment fund, now owns stock in some of the best-known American brands, including Apple, Coca-Cola, Johnson & Johnson, Motorola and Visa.

The detailed list, which contained holdings totaling $9.6 billion as of Dec. 31, was disclosed Friday in a filing with the U.S. Securities and Exchange Commission; it lists stakes only in companies traded in the United States.

What’s important to note is:

“This is still a relatively small amount compared to the total size of the fund,” said Chang Chun, a professor of finance at the China Europe International Business School in Shanghai.

Some U.S. politicians in both parties have been nervous about China’s growing financial reach, and particularly wary that China might seek political influence in the West commensurate with its corporate stakes.

You think?

It’s scary to think one day our currency could be the renminbi.

BUY American! Hire Americans!