Spending not so easy

China's rapid accumulation of foreign exchange reserves in recent years has been a subject of controversy. Some Westerners have even gone as far to blame the savings glut as the cause of the global financial crisis.

In spite of such absurdity, will the political road ahead be less bumpy for China as it spends some of its forex reserves?

Chinalco's plan to invest US$19.5 billion in Rio Tinto Group, the country's largest overseas acquisition, is the latest litmus test in the international environment for China to spend money.