In 2007, a small piece of research by Steven Jen generated ripples about the role and significance of Sovereign Wealth Fund (SWF) in the world of finance. The term SWF was coined by Andrev Razanor in 2005, and IMF defined it as “assets held by governments in other country’s currency”. Although, SWF has a history of more than half a century, it gained currency only since 2000. SWFs have been created by the governments for different motives.
China’s Xinjiang Problem
It all started on 26 June in the toy factory owned by the Hong Kong-listed Lacewood International in China’s Shaoguan city of Guangdong province. An official news agency wrote "Six Xinjiang boys raped two innocent girls at the Xuri Toy Factory." It was found to be a hoax, but the rumour spread quickly through the Internet sparking a deadly clash between the Uighur workers and Han Chinese who fought each other with knives and metal pipes in which two Uighur labourers were reportedly killed and 118 injured.