It's not just the U.S. government that's been turning to China for a helping hand to weather the financial storm.Troubled American companies also look to China, for its vast domestic market of 1.3 billion potential customers.
China Investment Corp., is also showing confidence in another established American brand. The investment arm of China's sovereign wealth fund will be the main buyer of Morgan Stanley's $2.2 billion common stock offering, buying 44.7 million shares (of a total 80.2 million shares) for $1.2 billion. That will bring CIC's stake in the Wall Street bank back up to about 9.9%, the same as its original stake in Morgan Stanley, which was purchased in 2007 for $5.6 billion. (CIC's stake was diluted after Morgan Stanley sold shares to Mitsubishi UFJ Financial Group last fall.)
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