But critics call GNEP a costly gamble on unproven science that will harm the cause of nuclear energy and do little to combat proliferation.

In the 1990s, many pension funds made far too big a bet on equities, a gamble that went disastrously wrong in the 2000-02 bear market.

Acquiring Volvo gives Geely an international profile and a degree of credibility it could never have achieved on its own. But it is a huge gamble.