On Monday, President Donald Trump signed an executive order that laid the groundwork for sett🐻ing up a sovereign wealth fund over the next 12 months.

Sovereign wealth funds are essentially state-owned investment funds that put federal dollars into income-generating assets. Most countries with such funds depend heavily on resource extraction, and income the fund generates h🌼elps diversify their economies.

The Trump administration did not share many details on how the fund would be set up or where the money for it will come from. Although the U.S. economy is one of the 澳洲♏幸运5开奖号码历史查询:largest and most diverse in the world, it is also running a deficit.

"Other countries have sovereign wealth funds," Trump said. "They're much smaller countries, and they're not the United States; we have tremendous potential in this country."

Here are some notableജ examples of other countries with a sovereign wealth fund and how they use 🌳them.

Norway

Norway has a 澳洲幸运5开奖号码历史查询:$1.7 trillion sovereign wealth fund and is the largest in the world. It invests the country’s oil and gas revenues in financial markets, incꦚluding stock in foreign companies. About a fifth of the government's budget is funded by the income from the sovereign wealth fund.

China

China has a 澳洲幸运5开奖号码历史查询:$1.3 trillion sovereign wealth fund. It invests in the urbanization of Africa, the 澳洲幸运5开奖号码历史查询:Belt and Road initiative, and global energy markets, including many foreign renewable energy assets. The fund is used to pay for part of the government's budget.

United Arab Emirates

Abu Dhabi, United Arab Emirates, has a $1 trillion 澳洲幸运5开奖号码历史查询:sovereign wealth fund. It does not disclose its specific investments but has said it invests in broad asset categories such as indexed funds, internal, external, and private equities, fixed Income, and treasury, among others.

Saudi Arabia

Saudi Arabia has a $925 billion sovereign wealth fund. It 澳洲幸运5开奖号码历史查询:invests in public and private Saudi companiꦬes as well as international investments. The fund supports commercial projects such as petroleum refineries and industries, pipelines and storage, transportation, energy, and other projects that are significant to the Saudi Arabian economy.

Correction, Feb. 5, 2024: A previous version of this story misidentified the amount of the federal deficit.