SitNews - Stories in the News - Ketchikan, Alaska

Viewpoints: Letters / Opinions

China Buying U.S. Companies

By Donald A. Moskowitz

 

June 14, 2013
Friday AM


Chinese companies spent $6.5 billion to purchase U.S. companies in 2012, which broke the previous record of $5.2 billion in 2010.  It appears the Chinese acquisitions of U.S. companies could exceed $10 billion in 2013.

In May 2013 Shuanghui International agreed to purchase Smithfield Foods.  Smithfield is the world’s largest hog producer with 460 farms and contracts with 2,100 others across the U.S.  Will the hog supply be diverted from the U.S. to feed China’s burgeoning population?  Will China’s poor food safety record and the manufacture of low quality products impact Smithfield’s operations?  Hopefully, Midwestern states will be able to block the sale with laws that prohibit foreign ownership of farmland.

A Chinese consortium purchased International Lease Finance Corp. (ILFC), which owns and leases over 1,000 aircraft and has relationships with many airlines.  In 2012 Chinese companies purchased AMC Entertainment, one of the largest movie theater chains in the U.S.

The U.S. Committee on Foreign Investment should deny Chinese acquisitions if they impact our national security or our country’s economic well-being.

Donald A. Moskowitz
Londonderry, NH

Received June 13, 2013 - Published June 14, 2013

 

Viewpoints - Opinion Letters:

letter Webmail Your Opinion Letter to the Editor

 

 

Representations of fact and opinions in letters are solely those of the author.
The opinions of the author do not represent the opinions of Sitnews.

 

E-mail your letters & opinions to editor@sitnews.us
Your full name, city and state are required for letter publication.

SitNews ©2013
Stories In The News
Ketchikan, Alaska