The new story on China and commodities is a lot like the old story on China and commodities. The Australian reports China is eyeing a large stake in the world’s largest diversified commodity producer, BHP Billiton. It’s the latest in China’s enormous effort to lock up iron ore, copper, zinc, oil, and uranium deposits for the next few decades.

In the past two years, your DailyWealth team has traveled to Africa, South America, Canada, Asia, and just about every other place rich in natural resources. In all locations, you’ll find an army of Chinese businessmen looking to make deals in natural resources and the infrastructure needed to extract them.

As the interest in BHP shows, it doesn’t matter whether China has to go into the desert, the sea, or the stock market, it’s ready to spend hundreds of billions to fuel growth. The resource race is on!