Capital flight or capitol fight: Why is so much money fleeing China, and what is the biggest ramification?
An obscure Chinese company is buying the Chicago Stock Exchange. The February 5 announcement stirred a tumult on Capitol Hill. Members of both parties of Congress denounced the takeover, calling for the Treasury Department to investigate the proposed sale.
Yet the founder of the Chongqing Casin Enterprise Group (Casin Group), which is buying the Chicago Exchange, assured regulators that his intentions were purely financial in nature. He planned on keeping the United States management team in place and said he would use information learned from the Chicago Exchange “to help develop financial markets in China over the longer term and to bring exciting Chinese growth companies to U.S. investors.”
So what’s the problem?
Chinese powerhouse Dalian Wanda is reportedly in talks to buy a controlling stake in US film studio Legendary, providing the Communist Party-linked company with a key anchor in Hollywood.
The media and property group controlled by China’s richest man Wang Jianlin is in advanced stages to buy the studio behind blockbusters “Godzilla” and “Pacific Rim”, according to reports Tuesday in the New York Times and Financial Times newspapers. Continue reading
They’ve bought oil companies in Texas. They’ve had plans to build a self-sufficient city near Boise, ID, and another in Milan, MI. They already make the microchips, processors and other electronics in many computers used by the general public, business, government and even the military. The latest purchase of AMC will more than likely render the company as a propaganda outlet pumping pro-China rhetoric into naive soft heads. Red Dawn, the remake was even put on hold in order not to offend the “sensitivities” of Red China’s leadership as the latest invaders weren’t the Soviets, but their PLA counterparts. The invading army was eventually switched to the North Koreans. It is still yet to be finalized and released.
…and China will continue invading every facet in American life so long as we have a weak administration in the White House.
China continued its expansion into the entertainment industry Sunday when the Wanda Group, a Chinese media conglomerate, agreed to acquire AMC Entertainment, North America’s second-largest movie theater owner, in a $2.6 billion deal.
The New York Timesreports:
The acquisition creates the world’s largest theater group, the companies said. It also represents a significant expansion of Chinese influence in the American film industry. The industry has been looking to China for a vast new reservoir of ticket buyers for Hollywood movies, while joining Chinese investors to produce films like the planned “Iron Man 3” and teaming up to build studio facilities and a new Disney theme park in China.
Wang Jianlin, chairman and president of Wanda, said his goal was to own theaters covering 20 percent of the world theater market by 2020. Speaking through a translator on Sunday, Mr. Wang said his aim for the circuits was to “combine, and synergize and make them profitable.”
Sunday’s announcement is the second major deal this year between the North American entertainment industry and China. In February, DreamWorks Animation struck a $2 billion deal to open a studio in Shanghai under the Oriental DreamWorks brand.
Full article: China Invading Hollywood (Washington Free Beacon)