Published on December 19th, 2017 | by Admin0
Database Showcases Depth of Chinese Ownership in U.S.
Official release from Global Trade Watch – December 19, 2017
President Trump’s new national security strategy unveiled Monday framed China as a competitor in the global economy, stating the United States should boldly counter countries like China that have an “extractive economic footprint” and “steal U.S. intellectual property.”
In reality, instead of protecting American assets from China, Trump continues to facilitate Chinese acquisitions of American assets in sensitive sectors, often by state-owned and state-linked companies like China Investment Corporation (CIC), the Chinese sovereign wealth fund. For example, just last month while on his trip to Asia, Trump announced deals for more Chinese government influence in the U.S. economy on his China visit.
This included China’s government passing $5 billion through Goldman Sachs to purchase U.S. assets and $127 billion for Chinese state-owned firms to acquire an Alaskan port and natural gas projects in Alaska and West Virginia.
To track the footprint of Chinese investment in the United States, Public Citizen’s Global Trade Watch has built a comprehensive new database backed by records of each Chinese investment transaction of $50 million or more from 2002 to 2016. The database is fully downloadable and links are provided to additional information. There is no other publicly-available compilation of all of this information on this scale.
Did you know…
- Chinese financial interests have acquired more than $120 billion of assets in the U.S. economy since 2002?
- Fifteen Chinese government entities (i.e. sovereign wealth funds and state-owned enterprises like CIC and Sinopec) and government-connected private sector firms like Anbang and HNA Group account for nearly 60 percent of this activity?
- Major transactions have been recorded in at least 40 U.S. states in diverse sectors, ranging from agriculture to energy to biotechnology?
- That U.S. financial companies have a lot at stake in facilitating even more transactions, as a number of large deals have been struck between state-owned/state-linked Chinese companies and major U.S. financial firms including Goldman Sachs, Blackstone and Morgan Stanley?