China is making bids on slices of the American pie. Beware, Americans love to take risks and business, banking and real estate bubbles are bursting in the United States like a GM assembly line.
The China Price is all about China buying up American companies like the IBM brand name or companies like Maytag, an American icon. The Asia Times reports that China’s ownership of US Treasuries is moving close to a trillion U.S. dollars while spending close to another thirty billion in merging and buying American Companies.
Will China suffer the same Wild West Blues that Japan suffered in the 1980s when the Japanese went nuts buying property in America before that bubble burst? From what I’ve read, Japan is still recovering from the losses and those that hung on are suffering even more from the recent real estate crash.
No one has tamed the Wild West yet, and I doubt China will succeed where so many have failed considering the American love affair with credit cards.