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Cracker Jacks

Communist China largest land owner Canada

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Cracker Jacks
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One of China's largest overseas buyers just had its operations seized by the government. The China Insurance Regulatory Commission (CIRC), a state-run regulator, has officially begun prosecution of Wu Xiaohui, the former CEO of Anbang. The process has led the government to seize control of the assets "temporarily," placing billions of dollars of Canadian real estate in the hands of the Chinese government. Making The communist peoples republic the largest land owner in Canada.

These deals were approved by the Canadian government.

https://betterdwelling.com/chinese-government-just-seized-billions-worth-canadian-real-estate/

https://www.youtube.com/watch?v=15JggdzGyTU

Edited by Still Waters
Source link added & trimmed for length. The rest can be viewed in the link.
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and then

Let's just hope they never decide to restrict access :)  At one time the Japanese owned huge amounts of high dollar real estate in the U.S.  I'm not sure how that investment strategy worked out for them.

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Gromdor

I know a lot of farmland is increasingly becoming foreign owned.  Some states like mine (Iowa) forbid foreign ownership but other states allow it. https://www.npr.org/2019/05/27/723501793/american-soil-is-increasingly-foreign-owned

Many companies around here are foreign owned.  The Firestone tire plant in Des Moines is owned by a Japanese company.  The last two bio-chemical plants I did work at were owned by Germans and the Japanese respectively.  Egyptians built a billion dollar fertilizer plant and bought a local construction company to do it.

Every time we have a recession foreign citizens swoop in and buy the bankrupt/discounted properties as well. My Brazilian in-laws bought some properties down in Florida after 2008.  Those have doubled in value since then.  I know they weren't the only ones- Russians, Chinese, Japanese, etc. all buy as well.

Seems like the only thing the typical American citizens own is debt.

But that is capitalism right?  Who are we to stop individuals from buying or selling, even if the end result is that we sell our whole country piece meal.  It's not like rich Americans don't own property overseas.  The world is becoming a global place with different countries just being a region with different property and tax laws.

 

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and then
51 minutes ago, Gromdor said:

Many companies around here are foreign owned.  The Firestone tire plant in Des Moines is owned by a Japanese company.  The last two bio-chemical plants I did work at were owned by Germans and the Japanese respectively.  Egyptians built a billion dollar fertilizer plant and bought a local construction company to do it.

Across the Bay from where I live, the city of Mobile has a major assembly plant owned by Airbus.  Australia has a huge footprint on the Mobile River docks building the Littoral vessels for the U.S. Navy. It's called AUSTAL. It is a global economy for sure.  

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Sir Wearer of Hats
On 10/20/2019 at 7:53 AM, and then said:

Across the Bay from where I live, the city of Mobile has a major assembly plant owned by Airbus.  Australia has a huge footprint on the Mobile River docks building the Littoral vessels for the U.S. Navy. It's called AUSTAL. It is a global economy for sure.  

Good to see Aussie companies are building something somewhere, most of the military construction happening here is by German and French firms.

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and then
1 hour ago, Sir Wearer of Hats said:

Good to see Aussie companies are building something somewhere, most of the military construction happening here is by German and French firms.

They are VERY welcome in our part of the world and they make a fine ship.

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Great Old Man

The Worst Capitalists= Communism China

very strange. very strange.

how they become communist while they think money is all?

Total hypocrisy

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Dark_Grey

China prefers a "slow burn" type of take over. The have been quietly buying land and infrastructure around the world, looking at the long term while the sellers are only focused on the asking price. You will turn around one day and realize China owns half of the land in Africa with the mineral rights to boot. 

There is some benefit to having a lifetime Emperor instead of a President that changes every 4 years. 

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Dark_Grey

Chinese "investors" are the biggest driving force of house prices in B.C. right now. Walking through Victoria is like walking through China town...it's surreal.

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