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Topic: Chinese Buy AMC Entertainment: Update
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Gerard S. Cohen
Jedi Master Film Handler
Posts: 975
From: Forest Hills, NY, USA
Registered: Sep 2001
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posted 01-01-2014 01:33 PM
[This article gives a scary insight into China's growing economic power.]
June 8, 2013. Source: Michael Snyder, Guest Post
In future China will employ millions of American workers and dominate thousands of small communities all
Over the United States. Chinese acquisition of U.S. Businesses set a new all-time record last year, and it is
On pace to shatter that record this year.
The Smithfield Foods acquisition is an example. Smithfield Foods is the largest pork producer and processor
In the world. It has facilities in 26 U.S. States and it employs tens of thousands of Americans. It directly owns
460 farms and has contracts with approximately 2,100 others. But now a Chinese company has bought it for
$ 4.7 billion, and that means that the Chinese will now be the most important employer in dozens of rural
Communities all over America.
Thanks in part to our massively bloated trade deficit with China, the Chinese have trillions of dollars to spend.
They are only just starting to exercise their economic muscle.
It is important to keep in mind that there is often not much of a difference between "the Chinese government"
And "Chinese corporations". In 2011, 43 percent of all profits in China were produced by companies where the
Chinese government had a controlling interest in.
Last year a Chinese company spent $2.6 billion to purchase AMC entertainment - one of the largest movie theater
Chains in the United States. Now that Chinese company controls more movie ticket sales than anyone else in the world.
But China is not just relying on acquisitions to expand its economic power. "Economic beachheads" are being
Established all over America. For example, Golden Dragon Precise Copper Tube Group, Inc. Recently broke ground
On a $100 million plant in Thomasville, Alabama. Many of the residents of Thomasville, Alabama will be glad to have
Jobs, but it will also become yet another community that will now be heavily dependent on communist China.
And guess where else Chinese companies are putting down roots? Detroit. Chinese-owned companies are investing in
American businesses and new vehicle technology, selling everything from seat belts to shock absorbers in retail stores,
And hiring experienced engineers and designers in an effort to soak up the talent and expertise of domestic automakers
And their suppliers. If you recently purchased an "American-made" vehicle, there is a really good chance that it has a
Number of Chinese parts in it. Industry analysts are hard-pressed to put a number on the Chinese suppliers operating in
The United States.
China seems particularly interested in acquiring energy resources in the United States. For example, China is actually
Mining for coal in the mountains of Tennessee. Guizhou Gouchuang Energy Holdings Group spent 616 million dollars
To acquire Triple H Coal Co. In Jacksboro, Tennessee. At the time, that acquisition really didn't make much news, but now
A group of conservatives in Tennessee is trying to stop the Chinese from blowing up their mountains and taking their coal.
And pretty soon China may want to build entire cities in the United States just like they have been doing in other countries.
Right now China is actually building a city larger than Manhattan just outside Minsk, the capital of Belarus.
Are you starting to get the picture? China is on the rise. If you doubt this, just read the following:
# When you total up all imports and exports, China is now the number one trading nation on the entire planet.
# Overall, the U.S. has run a trade deficit with China over the past decade that comes to more than 2.3 trillion dollars.
# China has more foreign currency reserves than anyone else on the planet.
# China now has the largest new car market in the entire world.
# China now produces more than twice as many automobiles as the United States does. After being bailed out by
U.S. taxpayers, GM is involved in 11 joint ventures with Chinese companies.
# China is the number one gold producer in the world.
# The uniforms for the U.S. Olympic team were made in China.
# 85% of all artificial Christmas trees the world over are made in China.
# The new World Trade Center tower in New York is going to include glass imported from China.
# China now consumes more energy than the United States does.
# China is now in aggregate the leading manufacturer of goods in the entire world.
# China uses more cement than the rest of the world combined.
# China is now the number one producer of wind and solar power on the entire globe.
# China produces 3 times as much coal and 11 times as much steel as the United States does.
# China produces more than 90 percent of the global supply of rare earth elements.
# China is now the number one supplier of components that are critical to the operation of any national defense system.
# In published scientific research articles China is expected to become number one in the world very shortly.
And what we have seen so far may just be the tip of the iceberg. For now, I will just leave you with one piece of advice -
learn to speak Chinese. You are going to need it !
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Frank Angel
Film God
Posts: 5305
From: Brooklyn NY USA
Registered: Dec 1999
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posted 01-09-2014 11:36 AM
Today, economics is global, not national. We have to stop thinking that it's contained by borders. We have to accept that Chinese communism, the terrible demond that we have made it out to be, may become the dominating force that keeps American workers in jobs -- the American capitalism that we worship seems to have come up significantly short in that department. And we are going to learn to think kindly of whoever can give us work and keep food on the table. We are going to slowly understand that idology means very little. Human nature being with it is, will always side with whatever sustains us.
In Vonnegut's Catch 22, the old Italian man reminds the American soldier that no civilization, no Empire in the history of mankind has ever lasted indefinately as the world dominating power; all of them have risen and also have fallen. He asked the American what made him think that America would be any different, that it would last as the dominant world power forever and didn't he think it's power would ever change or diminish?
Nationalism feels good and has its place, but it won't stop China from becoming an economic giant and there is very little we can do about it, other than not putting up walls that would make China decide to build those job-making plants in places other than the US.
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Leo Enticknap
Film God
Posts: 7474
From: Loma Linda, CA
Registered: Jul 2000
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posted 01-09-2014 07:04 PM
I was lucky enough to visit Shanghai in 2008. The place struck me as somewhere that must have been similar to a European city during the late c18/early c19 industrial revolution, or an American one during the late c19/early c20, when the massive economic boom that followed the Civil War was in full swing. There was a greenish, yellow smog everywhere, that smelled sulphurous and made my eyes sting (lots of people were wearing face masks, though I couldn't find where they were buying them from!).
Skyscrapers were going up everywhere, with construction workers perched on RSJs hundreds of feet up, as they are in photos of New York in the '20s (think Edward G. Robinson in the opening scene of Two Seconds). Food, drink and other essentials seemed unbelievably cheap to me - but of course they wouldn't if I'd been earning an average Chinese salary. Pretty much everyone I met was well-educated (how many Brits or Americans speak any second language to near-native fluency, let alone one with a totally different written character set and grammatical structure?), confident, outgoing and conscious of the fact that they were playing a part in a rapidly growing economy and a country that was becoming a major geopolitical power.
Whether that rate of growth is sustainable or not I don't know. China isn't the only large developing country that is developing very quickly (India and Brazil come to mind), and the potential for military conflict with Japan and/or Kim "Who let the dogs out?" Jong Un is, let's just say, a bit scary. Energy and water supplies are also likely to become a serious problem for China in the near future, from what I've read. We're living through an interesting period, and that's for sure.
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