China’s largesse is its road to domination

Property values have moved on since Dutchman Peter Minuit bought Manhattan Island from unnamed Native Americans for 60 guilders in 1626.

They have moved on too since, in 1867, America bought Alaska from Russia for $7.2m. That oil — just oil — generated $2.4bn for Alaska last year shows what a good investment, in economic terms at least, that 1867 deal was.