Friday, October 5, 2007

Carlyle Chief Extols China as the New America, Only with Asian Consumers

The land of opportunity that sprouted The Carlyle Group will soon be downright Un-American compared to China, according to Carlyle founder David Rubenstein.

"I expect our presence in China will increase dramatically over the next couple of years, there is nothing more important to Carlyle than China." With its 1.2 billion people and ultra-fast economic growth over the past decade, he said "the growth and opportunities in China are unmatched anywhere else in the world."

The new land of opportunity is China, despite Carlyle's U.S. Buyouts fund being the most profitable to date. But like an aged trophy wife, the U.S. economy is ripe for shunning in favor of the fast maturing Asian model. Now that sounds like Washington, DC behavior. It's a good thing Carlyle's office is just down the street from the President.