I have written about this trend before, but the latest news clearly shows how China is moving into natural resource markets in a way the US used to pride itself. In other words, while the US is bogged down in a rediculously self-created quagmire for control of Iraq, China is extending its reach and relations around the world:

China, with nearly $1 trillion in reserves and a voracious appetite for natural resources, has decided to spend some of its billions of dollars in savings to secure access to the oil, gas, copper, coal and other mineral riches that lie beneath the soil of many African countries.

On the anniversary of the 1956 Suez Crisis the leaders of the US would be wise to think long and hard about the mistakes made by the US, Britain and France as they worked against each other while trying to impose their will abroad.