No takeover battle or asset sale is complete these days without speculation about a possible bidder from China. In the past few months, Chinese companies or government agencies have announced investments in Barclays, Bear Stearns and Blackstone – three of the best-known names in international finance. Chinese mining and energy companies have been investing in everything from copper in Afghanistan to tungsten in Tasmania.

Overseas investment from Chinese groups has nearly doubled this year, according to Thomson Financial. With the dollar weak, the US financial system reeling and China’s foreign currency reserves nearing $1,500bn (£727bn, €1,023bn), the flurry of investments has added to the prevailing sense that the geopolitical axis is shifting.