China's global spending frenzy largely unnoticed...

China is hunting for bargains in some unlikely corners of the world. Earlier this week, it opened its checkbook to make 14 commercial investments inside Greece, which is struggling to avoid defaulting on its mounting debt.

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Some experts say that the recent multibillion-dollar China-Greece contracts are merely part of the country's global growth strategy, although it's surprising they haven't garnered more attention.

"It's nothing new," says Richard Lee, a foreign exchange trader for a global macro fund who wrote about the deals at The Daily Reckoning. "What's really unique about it is that it's covert. If the U.S. had these deals, if Russia had these deals, people would be talking about it." Lee cited China's recent promise to lend Venezuela $20 billion in exchange for crude oil as another example. Full story...

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