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It's an open secret that Indonesia's economy is on the rise. In the spirit of March Madness, it's something of a sleeper. That's why China, which is always looking for promising new investments, is looking to make inroads there.
Indeed, China's appetite for commodities makes Indonesia – with its close proximity and abundance of natural resources – an ideal partner.
PetroChina Co. Ltd. (NYSE ADR: PTR), Sinopec, Sinosteel, Minmetals and China Investment Corp (CIC) – Beijing's $300 billion sovereign wealth fund – are all aggressively scouring South East Asia's largest economy for takeover targets and joint venture partners, the Live Trading News reported.