Fivefold surge in Americans on Chinese-firm payroll in the US: report

Although the numbers are still quite low, the key issue is not the amount. It likely wouldn’t take more than running 5% of American businesses nation-wide in the most critical industries and businesses to wreak economic havoc if the CCP so wished to pull the trigger — and as the last few years have increasingly shown us, the Chinese leadership’s behavioral patterns and actions indicate wreaking havoc on America is their intention.

 

The number of Americans on Chinese company payrolls has surged more than fivefold over the past five years along with growing foreign direct investment by China in the United States, a study by two US-based organisations has found.

The report – released this month by non-profit group, the National Committee on US-China Relations, and economic think tank Rhodium Group – highlighted the expansion of Chinese firms in various American congressional districts.

The report, titled “New Neighbours: Chinese Investment in the United States by Congressional District”, showed Chinese firms had invested US$46 billion in new establishments and acquisitions in the US since 2000.

Considering only full-time jobs, it said Chinese firms now provided more than 80,000 direct jobs in the US.

“While this is still modest compared with the total number of jobs provided by foreign firms, it is significant growth from less than 15,000 jobs five years ago,” the report said. “Fears that Chinese acquirers could systematically move acquired assets and related jobs back to China have not materialised.”

According to the report, as of the end of last year, there were 1,583 establishments by Chinese firms in the US, stretching across all regions of the country.

The biggest recipients in terms of cumulative investment between 2000 and 2014 were districts in North Carolina, Illinois, New York, Virginia, and Texas.

Full article: Fivefold surge in Americans on Chinese-firm payroll in the US: report (South China Morning Post)

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