It is time for China Investment Corporation’s (CIC) annual look in the rear-view mirror. Perhaps it is a sign of the pace at which our world is changing, but CIC’s annual reviews – generally published about 11 months after the conclusion of the previous year – seem so dated in recent times they could be steeped in sepia.
CIC’s 2021 was, in hindsight, a year of rare benevolence. It was a year when interest rates were low, inflation was a dim memory held only by those aged 40 or above, and Ukraine was going about its business as a free and uninvaded nation.
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