The Chinese Are Coming

ChineseDragonHang on to your farm land and your homes. The Chinese are on the move. In China, pollution has created an asthma epidemic, food safety scares are commonplace, and China’s economic pace ebbs. The country’s wealthiest are on the move and want a better life for themselves or their children. Over 9.3 million have immigrated in recent years.

The United States is the preferred destination. U.S. real estate has become the safe haven for wealth. In August, the largest real estate for sale database, Zillow, will begin publishing its information in Mandarin. Already, in 2013 Chinese buyers purchased about $11 billion of US properties.

In Manhattan, about half of all new condos are being purchased by Chinese nationals. They are purchasing businesses and agriculture land as well. One of the largest recent purchases was the snap up of Smithfield Foods, a giant US pork producer, by a Chinese company for $4.7 billion. Let’s face it, we owe the Chinese the company store. They are financing a huge amount of our country’s debt and climbing. There will come a day when they want their money back or will collect assets. Land is something they need for their overflowing population.

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About Kent Blacklidge Ph.D.

As part of a newspaper family who owned a 34,000 daily newspaper in the heart of the Midwest, I have a passion for a strong “Fourth Estate”, the press. Without a diligent and assertive free press, the power would be taken from the people. People have the absolute right to know. After earning a degree in Industrial Management from the Krannert School of Management at Purdue, I spent over 20 years in newspaper management with several as publisher. I am also holder of three graduate science degrees including a Ph.D.. I have a passionate interest in science and the environment. I have little tolerance for ignorance and stupidity.
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