In the tiny North Carolina town of Tar Heel, the Smithfield Foods Packing Co., the world’s biggest slaughterhouse that often smells of pig manure, belongs to a giant Chinese meat-processing company.
Hundreds of movie theaters across the country are owned by the Kansas City-based AMC Theatres chain, which reports to China’s richest man.
And in Miami, a luxury condo tower called One Thousand Museum is rising over Biscayne Bay. Its contractor is a Chinese firm, the largest builder in the world’s most populous country.
In a presidential campaign focused on the loss of American jobs, a recent study shows how U.S. jobs are created or preserved under China’s investment boom in the United States.
China has spent more than $100 billion since 2000, buying or making significant investments in 1,900 companies. That flow is accelerating: In the first quarter of this year, Chinese firms had $30 billion in pending or completed deals, according to Stephen Orlins, head of the National Committee on U.S.-China Relations, a New York-based organization that researches the two countries’ ties.
The Chinese purchasers, many of them state-owned or with close government ties in Beijing, are responsible for almost 100,000 American jobs, according to a recent report by Orlins’ organization and the Rhodium Group, a New York company that provides research on global business trends to U.S. and foreign companies.
One of those jobs is held by Brad Meltzer, president of Plaza Construction Florida, which is building One Thousand Museum, set to open by next spring with a $49 million penthouse and condos starting at $5.7 million.
The Miami-based company’s parent group, Plaza Construction, is headquartered in New York. It’s owned by China Construction America of Jersey City, N.J., a subsidiary of China State Construction Engineering LTD in Beijing. “That investment has offered us dynamic growth opportunities,” Meltzer told McClatchy.
http://www.mcclatchydc.com/news/politics-government/article80386057.html
Hundreds of movie theaters across the country are owned by the Kansas City-based AMC Theatres chain, which reports to China’s richest man.
And in Miami, a luxury condo tower called One Thousand Museum is rising over Biscayne Bay. Its contractor is a Chinese firm, the largest builder in the world’s most populous country.
In a presidential campaign focused on the loss of American jobs, a recent study shows how U.S. jobs are created or preserved under China’s investment boom in the United States.
China has spent more than $100 billion since 2000, buying or making significant investments in 1,900 companies. That flow is accelerating: In the first quarter of this year, Chinese firms had $30 billion in pending or completed deals, according to Stephen Orlins, head of the National Committee on U.S.-China Relations, a New York-based organization that researches the two countries’ ties.
One of those jobs is held by Brad Meltzer, president of Plaza Construction Florida, which is building One Thousand Museum, set to open by next spring with a $49 million penthouse and condos starting at $5.7 million.
The Miami-based company’s parent group, Plaza Construction, is headquartered in New York. It’s owned by China Construction America of Jersey City, N.J., a subsidiary of China State Construction Engineering LTD in Beijing. “That investment has offered us dynamic growth opportunities,” Meltzer told McClatchy.
http://www.mcclatchydc.com/news/politics-government/article80386057.html
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