From ‘Made in China’ to ‘Owned by China’: 20 deals show how China is gobbling up U.S. assetsBetween 2002 and 2016, Chinese state-owned or state-linked companies acquired more than $120 billion worth of assets in 40 states across the U.S.By Seamus Bruner
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July 7, 2020 - 11:15amU.S. lawmakers are seeking how to address growing American supply chain concerns amid the global coronavirus pandemic. In addition to most consumer goods and electronics, China reportedly manufactures "more than 90% of U.S. antibiotics, vitamin C, ibuprofen and hydrocortisone, as well as 70% of acetaminophen," among other crucial drugs imported by the U.S.
Sen. Rick Scott (R-Fla.) has become one of the most vocal critics of the Chinese Communist Party and has urged a boycott of goods made in China. “We have to pass a law: Stop buying anything from Communist China,†Scott said in a recent interview. "Nothing. Don’t buy any products from them."
However, a boycott of goods made in China would do little to address growing Chinese influence over American interests achieved via investments, mergers, and acquisitions. Between 2002 and 2016, Chinese state-owned or state-linked companies acquired more than $120 billion worth of assets in 40 states across the U.S. Just 15 Chinese entities (sovereign wealth funds, state-owned corporations, or state-linked private sector firms) accounted for 60% of this activity. In 2016 alone, more than 50 of these Chinese acquisitions exceeded $50 million. Several Chinese takeover deals exceeded $1 billion.
Here are 20 Chinese investments and buyouts that have consequences for American consumers (and potentially 2020 election voters):
1. Reddit — China’s Tencent Invested $150 Million in 2019<..snip..>
https://justthenews.com/world/asia/made-china-owned-china-20-deals-show-how-china-gobbling-us-assets?utm_source=whatfinger