After Buying Spree, China Owns Stakes In Top U.S. Firms
SHANGHAI — Flush with cash despite the global economic downturn, China’s sovereign wealth fund quietly snapped up more than $9 billion worth of shares last year in some of the biggest American corporations, including Morgan Stanley, Bank of America and Citigroup.
Although most of the stakes were small, China Investment Corp., the government’s $300 billion investment fund, now owns stock in some of the best-known American brands, including Apple, Coca-Cola, Johnson & Johnson, Motorola and Visa.
The detailed list, which contained holdings totaling $9.6 billion as of Dec. 31, was disclosed Friday in a filing with the U.S. Securities and Exchange Commission; it lists stakes only in companies traded in the United States.
The filing offers a glimpse of how China is trying to diversify its more than $2 trillion in foreign currency holdings with stock, rather than investing almost entirely in U.S. Treasury bonds and other debt securities issued by governments and by government-sponsored enterprises like Fannie Mae.
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Rich
When are we going to wake up?
Proudnow
Where is the outrage FoxNation? Your conservative Supreme Court justices have opened the door for China to buy the next election. They already control our economy and our judges feel they should now buy our electoral process. This is what you wanted????
slordax
buy the next election? regardless of what you are trying to suggest, the laws are very specific towards any campaign receiving any foreign monies. it is illegal.
OldAncientOne
How did China get so powerful and rich? I don't get it.
Ken in Atlanta
Well if you pay your workers 17 cents an hour, you have room for lots of profit.
Michael Moore is so proud.
Kornrow
"Send in The Clowns"
Thanks Barry, Thanks Harry, Thanks Nancy, Thanks Demo-zz
JLee
Proudnow - Your ignorance is amusing. Even if there was a way to connect the dots like your attempting, how could we possibly have a worse president than what we now have - is Jimmy going to run again?
Woody B
Just a tad bit of news Proudnow -- if you are carrying a mortgage on your home, IT IS NOT YOUR HOME!!! It belongs to the mortgage company until you pay it off IN FULL.
sparker
And we were lead to believe that Obama was super smart. His failure to honor his first pledge as a candidate, was enough for me, but his defiance in spending should alarm ALL Americans. He is handing America over to China on a sliver platter. Al-Quiada promised we would be attacked from within, and we certainly are, from our own White House.
Navy(Retired) Oathkeeper
Hung chow Peking duck. Just trying to brush up on my Chinese
awake and aware
This is how it begins. The liquidation of America.....
carolewash
We may have the last laugh, when this government crash's the economy into the ground China will be hit just as hard as we will. I don't think they are very good investors.
saltydizzle
+1
Roland
I believe that the interest on our debt is 400 million a day...China is the biggest lender and they are making a fortune.
We need to get our debt under control and stop spending.
BudMeister
"Miss me yet?"
George W.Bush
THE TOMB
Yowser, Yowser, Yowser!!!!! Step right up and put your money down! Ooops, I meant send your interest payments to China so they can put your money down to purchase for free what we want to give them. I wonder when they are going to purchase a seat on the New York Stock Exchange? If I were them why would I want to pay brokerage fees! Ding Lay Gaa Foy Bah Kah Lah Mah Pun Jaa, thank you very much our best representative President Obama, Hop to it Hop Sing!
Major_Skidmark ««Audio: Reagan on UHC
I say we give them California and call it even.
spinfree
China is not that stupid. They will want something of value.
Mark
We could pay them to take California. We'd still be ahead. I escaped California 10 years ago, and they can't make me go back. I won't GO!
John
And meanwhile back at home owebama is shoving health care down our throats. He does not have a clue on what being the President means. We better all go out and learn to speak one of the Chinese language dialects. We thought the Progressives wanted Socialism. It appears they want Communism.
fed up with them all
This should never be allowed, a country buying into some of our biggest companys
babwhite
When China obtains a majority share, they can move the companies out of the United States and stop paying the second highest corporate income taxes in the world. It's a joke. The coal companies own the technology of clean coal, but they are sharing the technology with China, not the US. Sorry Obama, but it looks like you didn't even get coal in your stocking.
saltydizzle
there is no such thing as "clean coal"
Ken in Atlanta
You should be right at home in Stonehinge.
Mark
Yes there is, try again.
Richard
Run these companys out of the USA and let china deal with them
beth
I'm surprised thats ALL they own...but China getting into our banking business...credit card business is a bit scary. Considering how much we owe them..........ever had your bank take all the money in your acct to cover something that happened a year prior??? AND DIDNT EVEN TELL YOU THEY WERE DOING IT??? (china now has their foot in the door with stock in major banks and visa) 3 days after the fact I got a letter saying on how they had authority. Well, it was only 100.00 but Im unemployed and have a son I support, and IT WAS MY ONLY 100.00....and it was already committed with other debt. ANYWAY......(china now has their foot in the door with stock in major banks and visa) BOY we OWE China ALOT of MONEY!!!! I hope everyone out there is ENJOYING everything BOUGHT with that money!!!!!
Lemure
Just like Europeans, if they were to have control in these icons, they would go out of business because they do not understand marketing to Americans. They are public companies, they are vulnerable.
Kickin-it
Now we know why the stock market sored 60% for the last 10 months, the Fed was buying it. As a retail day trader, I have been saying this for months. They are not allowed to trade the stock market, they have insider info to all reports etc. It's an asset bubble that will explode worse than the housing bubble. Fire Bernake!
B.O.H.I.C.A.
Hey - I have a bridge I want to sell you :>)
Martat
The end of the American Supremacy!
I read a book many years ago written by Alain Peyrefitte, a french political man.
The title was "when China wakes up".....well it is now happening and America may not be perfect but I just dread a China dominated world.... on its way!
Misfit
Please stop towing the company line, this started long before this democratic wh , who do you think produces most of the goods we buy here in america and went into debt buying at our walmarts etc. Who do you think was holding the purse strings while the housing bubble was going? I can blame this WH for alot of stupid things but this one they are only making worse.
Mark
Yes, the Democratically controled congress is just as much at fault. Good point.
Speaking up
So now they have even MORE of vested interest to make sure they don't fail.
Pugmaster
Communist China is buying our debt, so no wonder that this is happening. The more it buys, the more if feels it can call the tune. The politicians in Washington D.C. continue to spend like the perverbial drunken sailors. If the United States does not get the national debt under control, then all American citizens will soon be speaking Chinese. That is the truth.
John S.
What we need to do is create a new currency backed by commodity's, then print a bunch of dollars and pay them back. If we don't do this we will be owned by them.
John S.
What we need to do is create a new currency backed by commodity's, then print a bunch of dollars and pay them back. If we don't do this we will be owned by them.
John S.
What we need to do is create a new currency backed by commodity's, then print a bunch of dollars and pay them back. If we don't do this we will be owned by them.
Kickin-it
That has been done, it's called the Iraqi Dinar. The US holds a bunch of it and due to their oil their currency will increase in the next few years.
NOVEMBER SLAUGHTER THE HOUSE
JOIN US TODAY*****FIGHT BACK ******STOP THE LIBERAL AGENDA!
***
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JOIN US ! BLOG & POST AGAINST ANY POLICYS THE LIBERALS SUPPORT!!
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***
Never before have we had a president that is so dis-respectful!
He has no respect for the american people or our american values!
Its clear that obama & the liberals he represents are anti_god,
anti-christian & anti-america ! Obama does not even respect the
supreme court! JOIN US TODAY**LOBBY FOR WHAT IS RIGHT
GO TO http://stormlobby.50webs.com/index.html
***
ACORN is obamas army! Acorn has 1 million paid employees nation
wide! Acorn is supported by your tax dollers,ACORN MUST BE STOPED!
GOV JAY NIXON OF MISSOURI is firing state employees & replaceing them
with americorps people which is backed by acorn! Gov offices are
now being maned by acorn! FIGHT BACK NOW SERVE AMERICA JOIN US AT
http://stormlobby.50webs.com/index.html
NOVEMBER SLAUGHTER THE HOUSE
JOIN US TODAY*****FIGHT BACK ******STOP THE LIBERAL AGENDA!
***
OUR GOAL IS TO PUT OBAMA & THE INSANE LIBERALS IN CONGRESS OUT OF OFFICE
JOIN US ! BLOG & POST AGAINST ANY POLICYS THE LIBERALS SUPPORT!!
*************Tired of being called names by obama & the liberals
in congress! JOIN OUR CONSERVATIVE SOCIAL NETWORK & CONTACT CONGRESS
Join at http://stormlobby.50webs.com/index.html Sign up today!
***
Never before have we had a president that is so dis-respectful!
He has no respect for the american people or our american values!
Its clear that obama & the liberals he represents are anti_god,
anti-christian & anti-america ! Obama does not even respect the
supreme court! JOIN US TODAY**LOBBY FOR WHAT IS RIGHT
GO TO http://stormlobby.50webs.com/index.html
***
ACORN is obamas army! Acorn has 1 million paid employees nation
wide! Acorn is supported by your tax dollers,ACORN MUST BE STOPED!
GOV JAY NIXON OF MISSOURI is firing state employees & replaceing them
with americorps people which is backed by acorn! Gov offices are
now being maned by acorn! FIGHT BACK NOW SERVE AMERICA JOIN US AT
http://stormlobby.50webs.com/index.html
Woody B
cindy, just give them a little time. If Obummer stays on his current course, in a few years China will be sending MANAGEMENT TEAMS to work in the US.
PATRIOT ARMS
The best thing we could do for our economy is to sop importing from China. Better that our dollars spent overseas be spread around, if we can't build it here at home.
cindylou
Obama---your doing such a WONDERFUL job. Speaking of jobs, is china going to send workers here to work at the Companies they own stock in?
bodyshock
Cindylou, I know you might struggle with this but this has nothing to do with Obama. China's been buying into US companies for years
MichaelS.
Washington politics sold America out long ago - - - when are we going to hold them accountable ? Obama is bowing this month and next month he will kissing the Chinese as***. I wonder what use the Chinese will have with our leadership in Washington when they takeover.............hahahaha.
Roger Fleming
Captcfiman; Sounds like you may remember what Nikita Khrushehev said in the 50'S. S/F ROGER FLEMING
Lemure
Didn't this happen a while back with Japanese? They bought up all types of property in US, went too far and ended up in dyer straights? This will happen with China too. They will over spend and over build. It is only time.
WV Taxpayer
Thanks Obama......you're destroying a great society and country.....
Visionist
This is..................................................................................not good