China Buying U.S. Companies By Donald A. Moskowitz June 14, 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 Received June 13, 2013 - Published June 14, 2013
Viewpoints - Opinion Letters:
Representations of fact and opinions in letters are solely those of the author. Your full name, city and state are required for letter publication.
|