Category Archives: Globalization

Silvio Berlusconi says bribes are a ‘necessary part of business’ and tells critics to ‘stop moralising’

berlusconi
No crime: Silvio Berlusconi, pictured during a political rally in Rome last week, defended the use of bribes in international negotiations saying they are ‘necessary’ when dealing with third world countries and regimes

Berlusconi defending bribes saying they are not criminal but ‘necessary’

The 76-year-old politician called critics ‘absurd’ and ‘masochist’
    
He said without bribes ‘you cannot be an entrepreneur on a global scale’

dailymail.co.uk | Feb 15, 2013

By Sara Malm

Silvio Berlusconi has defended the use of bribes in business saying they are necessary when securing international deals for Italian companies.

The former Italian Prime minister said illegal payments are vital when negotiating with ‘third world countries and regimes’.

Mr Berlusconi made the comments as a response to recent corruption scandals within several state-controlled conglomerates in Italy.

Mr Berlusconi, spoke against the arrest of Giuseppe Orsi, CEO of Finmeccanica defence group, who was taken into custody yesterday accused of paying Indian government officials to secure a helicopter contract.

The 76-year-old politician, who is running for his fourth term as Prime Minister in the country’s elections this month, said bribes are essential in international business, the Financial Times report.

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‘Bribes are a phenomenon that exists and it is useless to deny the existence of these necessary situations when you are negotiating with third world countries and regimes,’ Mr Berlusconi said in an interview with Italian State broadcaster, RAI 3.

‘These are not crimes. We are talking about paying a commission to someone in that country. Why? Because those are the rules in that country.’

The centre-right leader also defended state-controlled energy group Eni, which is alleged to have used bribes to win contracts in Algeria.

Mr Berlusconi even went as far as to suggest that putting a stop to bribery has left Italian companies out of business.

‘No one will negotiate with Eni or Enel or Finmeccanica anymore,’ he said.

‘It’s pure masochism.’

Mr Berlusconi called those who condemn financial incentives in deals outside Western democracies ‘absurd’.

‘If you want to make moralisms like that, you can’t be an entrepreneur on a global scale.’

His comments comes one year after his own bribery case was thrown out of court.

Mr Berlusconi stood accused of handing British lawyer David Mills £380,000 to lie during two 1990s trials to shield Berlusconi and his Fininvest holding company from charges related to the billionaire media mogul’s business dealings.

The Italian general elections will take place 24-25th February where Mr Berlusconi is yet again heading the People of Liberty party and hoping for a centre-right coalition.

His comments were unsurprisingly slammed by opposition politicians, who pointed out that Mr Berlusconi himself is appealing against his October tax fraud conviction while running for Prime Minister.

Just last month an Italian court granted his defense team’s request to postpone a trial for alleged wire tapping until after the elections.

Prosecutors have asked for a one-year jail sentence for Mr Berlusconi for his alleged role in the publication of wiretap transcripts in a newspaper owned by his media empire and three years for his brother Paolo, the publisher of Milan newspaper Il Giornale.

Mr Berlusconi denies all charges.

See also: The Berlusconi Toxic Corruption Data Storage Dump

China overtakes US in world trade

Employees work at a shoe factory in Lishui, Zhejiang province, China
Employees work at a shoe factory in Lishui, Zhejiang province, China. Photograph: Lang Lang/Reuters

Combined total for imports and exports of Chinese goods hits $3.87tn, edging past the US for the first time

guardian.co.uk | Feb 11, 2013

by Phillip Inman

China has become the world’s biggest trading nation in goods, ending ending the post-war dominance of the US, according to official figures.

China’s customs administration said the combined total for imports and exports in Chinese goods reached $3.87tn (£2.4tn) in 2012, edging past the $3.82tn trade in goods registed by the US commerce department.

The landmark total for Chinese trade indicates the extent of Beijing’s dependence on the rest of the world to generate jobs and income compared with a US economy that remains twice the size, and more self-contained. The US economy is worth $15tn compared with the $7.3tn Chinese economy.

The US not only has a large internal market for goods, but also dominates the trade in services. US total trade amounted to $4.93tn in 2012, according to the US Bureau of Economic Analysis (BEA) with a surplus of $195.3bn.

But like most western nations, the US deficit in the trade of goods weighs heavily and is only expected to get larger.

The deficit in goods was more than $700bn compared with China’s 2012 trade surplus, measured in goods, which totalled $231.1bn.

Jim O’Neill, head of asset management at Goldman Sachs, said the huge market for western goods would disrupt regional trading blocs as China becomes the most important commercial partner for some countries. Germany may export twice as much to China by the end of the decade as it does to France, he told Bloomberg.

“For so many countries around the world, China is becoming rapidly the most important bilateral trade partner,” he said. “At this kind of pace by the end of the decade many European countries will be doing more individual trade with China than with bilateral partners in Europe.”

It’s back: Texas in ‘Super Highway’ deal with Spain

nasco_corridor

Perry signs agreement 3 years after public opposition halted project

wnd.com | Dec 29, 2012

by Jerome R. Corsi

NEW YORK – Believe it or not, the Trans-Texas Corridor is back.

Very quietly, Gov. Rick Perry and the Texas Department of Transportation, or TxDOT, signed in October a comprehensive development agreement to construct a toll-road redevelopment of Interstate 35 north of downtown Fort Worth.

TxDOT signed the 50-year deal with NTE Mobility Partners Segments 3 LLC, a U.S.-based wholly-owned subsidiary of Cintra, the Spanish-owned construction company. TxDOT picked Cintra in 2005 to build what some critics called the “NAFTA Super Highway.”

Chris Lippincot, the former TxDOT information officer who is currently acting as the new public relations man for Cintra in the United States, also announced TxDOT signed a contract in September with Cintra to build a privatized State Highway 130 toll road in San Antonio.

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Perry may never have abandoned his original idea to build what during the presidential administration of George W. Bush was known as the Trans-Texas Corridor project, a 4,000-mile network of privately built and operated toll roads to crisscross the state, with Spanish development company Cintra scheduled to earn the tolls under 50-year leases.

In 2009, Perry scrapped the TTC plan after a series of combative town hall meetings throughout the state showed TxDOT it faced massive taxpayer resistance.

But now, the plan apparently is being implemented in small chunks, without the fanfare of divulging a statewide blueprint Perry and TxDOT may still have tucked away in their back pockets.

Was TTC ever really dead?

Operating below the radar of public opinion, Texas currently has $20 billion in roadwork underway through public-private partnerships, according to Ted Houghton, TxDOT chairman, the Texas Tribune reported earlier this month.

Despite Perry’s pledge in 2009 to end the Trans-Texas Corridor project with Cintra, TxDOT has kept the public-private partnership toll road concept alive by proposing smaller projects for the approval of the Texas state legislature.

Nicholas Rubio, the president of Cintra’s U.S. arm in Austin, told the Texas Tribune that Cintra currently has contracts for three road projects in Texas, consisting of approximately $5 billion in private investment against about $1 billion in public subsidies.

“You have to recognize, in general, that policymakers in Texas have been ahead of the curve,” Rubio told the Tribune. “The states that have been developing P3s (public-private partnerships) are Texas, Florida, Virginia, and that’s about it.”

In October, Perry and Rafael del Pino, chairman of Ferrovial, Cintra’s parent company in Spain, attended the grand launch of a 41-mile stretch of State Highway 130 P3 project between Austin and Sequin.

Texas owns the land on which the SH 130 P3 project is built, but a private consortium owned and operated by Cintra is scheduled to build the toll road. It’s to be operated under a 50-year lease, with Cintra taking the lion’s share of the tolls collected over the next 50 years to recover construction costs and to make a profit.

To make the SH 130 toll road palatable to Texas drivers, the speed limit will be set to 85 miles per hour, the fastest posted limit in the United States.

A look-back to the Bush era

Quietly but systematically, the Bush administration in conjunction with Perry in Texas advanced the plan to build a huge highway, four football fields wide, through the heart of Texas, parallel to Interstate 35, from the Mexican border at Laredo, Texas, to the Texas border with Oklahoma.

The Trans-Texas Corridor moved ahead to begin construction following the re-election of Perry in November 2006.

Plans to build TTC-35 were fully disclosed on KeepTexasMoving.org, a now defunct official TxDOT website.

On March 11, 2005, a “Comprehensive Development Agreement” was signed by TxDOT to build the “TTC-35 High Priority Corridor” parallel to Interstate 35.

The contracting party was a limited partnership formed between Cintra Concesiones de Infraestructuras de Transporte, S.A., a publically-listed company headquartered in Spain, majority controlled by the Madrid-based Groupo Ferrovial, and a San Antonio-based construction company, Zachry Construction Corporation.

The Cintra deal meant that once the TTC was completed, anyone who wanted to drive on it would have to pay an investment consortium in Spain for the privilege of driving in Texas.

Although somewhat incomprehensible to most U.S. citizens, these public-private partnerships involve selling off key U.S. infrastructure projects to foreign entities.

Granted, the “ownership” rights of projects like TTC-35 would have remained with the state of Texas, yet selling off the leasing rights amounts in the thinking of most U.S. citizens to selling off the highway to foreign interests for the term of the lease.

Under the terms of the TTC agreements with TxDOT, Cintra would have had the rights to operate TTC-35 for 50 years and to collect all tolls on the road in that period of time.

The Comprehensive Development Agreement called for Cintra-Zachry to provide private investment of $6 billion “to fully design, construct and operate a four-lane, 316-mile toll road between Dallas and San Antonio for up to 50 years as the initial segment of TTC-35.

For this, Cintra-Zachry paid the state of Texas $1.2 billion for the long-term right to build and operate the initial segment as a toll facility.

In April 2006, TxDOT released a 4,000-page Environmental Impact Statement, or EIS, for what was described as the “Trans-Texas Corridor-25 Oklahoma to Mexico/Gulf Coast Element.”

The April 2006 EIS made clear that Cintra-Zachry planned to build a 1,200-foot-wide (approximately four football fields wide) complex with 10 lanes of highway – five lanes in each direction, north and south.Three lanes in each direction would be reserved for passenger vehicles and two separate lanes reserved for trucks.

The EIS design included six rail lines running parallel to the highway, with separate rail lines in each direction for high-speed rail, commuter rail and freight rail.

Finally, the design called for a 200-foot wide utility corridor that would include pipelines for oil, natural gas, water, telecommunications and data, as well as electricity towers.

According to the TxDOT Trans-Texas Corridor Plan adopted in June 2002, TxDOT ultimately would build some 4,000 miles of highway-railway-utility super-corridors throughout Texas over the next 50 years, using some 584,000 acres of what is now Texas farm and ranchland, at an estimated cost of $184 billion.

The TTC plan left little doubt TTC toll-road super-corridors were designed to facilitate international trade, primarily speeding trucks and trains carrying “inter-modal” containers from Mexican ports to destinations in the heartland of the U.S.

The full TTC build-out was designed to move goods through Texas rapidly, bypassing the major cities.

US Olympic uniforms made in China


Ralph Lauren’s Olympic outfits were unveiled on Tuesday. The beret, blazer and patch are seen here on, from left, swimmer Ryan Lochte, decathlete Bryan Clay, rower Giuseppe Lanzone and soccer player Heather Mitts

foxsports.com | Jul 12, 2012

WASHINGTON (AP)

Uniforms for U.S. Olympic athletes are American red, white and blue – but made in China. That has members of Congress fuming.

Republicans and Democrats railed Thursday about the U.S. Olympic Committee’s decision to dress the U.S. team in Chinese manufactured berets, blazers and pants while the American textile industry struggles economically with many U.S. workers desperate for jobs.

”I am so upset. I think the Olympic committee should be ashamed of themselves. I think they should be embarrassed. I think they should take all the uniforms, put them in a big pile and burn them and start all over again,” Senate Majority Leader Harry Reid, D-Nev., told reporters at a Capitol Hill news conference on taxes.

”If they have to wear nothing but a singlet that says USA on it, painted by hand, then that’s what they should wear,” he said, referring to an athletic jersey.

House Democratic Leader Nancy Pelosi told reporters at her weekly news conference that she’s proud of the nation’s Olympic athletes, but ”they should be wearing uniforms that are made in America.”

House Speaker John Boehner, R-Ohio, said simply of the USOC, ”You’d think they’d know better.”

In a statement, the U.S. Olympic Committee defended the choice of designer Ralph Lauren for the clothing at the London Games, which begin later this month.

”Unlike most Olympic teams around the world, the U.S. Olympic Team is privately funded and we’re grateful for the support of our sponsors,” USOC spokesman Patrick Sandusky said in a statement. ”We’re proud of our partnership with Ralph Lauren, an iconic American company, and excited to watch America’s finest athletes compete at the upcoming Games in London.”

Senator: U.S. Olympic team uniforms should be burned

Lawmakers furious over China-made U.S. Olympic uniform

Ralph Lauren also is dressing the Olympic and Paralympic teams for the closing ceremony and providing casual clothes to be worn around the Olympic Village. Nike has made many of the competition uniforms for the U.S. and outfits for the medal stand.

On Twitter, Sandusky called the outrage over the made-in-China uniforms nonsense. The designer, Sandusky wrote, ”financially supports our team. An American company that supports American athletes.”

Ralph Lauren’s company declined to comment on the criticism.

In fact, this is not the first time that Ralph Lauren has designed the Olympic uniforms. Yet that did little to quell the anger on Capitol Hill.

”It is not just a label, it’s an economic solution,” said Rep. Steve Israel, D-N.Y. ”Today there are 600,000 vacant manufacturing jobs in this country and the Olympic committee is outsourcing the manufacturing of uniforms to China? That is not just outrageous, it’s just plain dumb. It is self-defeating.”

Israel urged the USOC to reverse the decision and ensure U.S. athletes wear uniforms that are made in America.

Sens. Sherrod Brown, D-Ohio, and Kirsten Gillibrand, D-N.Y., sent letters to Lawrence Probst III, chairman of the USOC, complaining about the made-in-China uniforms. Brown suggested that the USOC find a manufacturer with a facility in the United States, suggesting the Hugo Boss plant in Cleveland.

”There is no compelling reason why all of the uniforms cannot be made here on U.S. soil at the same price, at better quality,” Gillibrand and Israel wrote.

In a tweet, U.S. track and field Olympian Nick Symmonds, who will compete in the 800-meter run at the London Games, wrote: ”Our Ralph Lauren outfits for the Olympic opening ceremonies were made in China. So, um, thanks China.”

This is hardly the first time patriotism has been discussed when it comes to Olympic clothing. The must-have souvenir of the 2002 Salt Lake Games was a fleece beret, something that athletes wore in the opening ceremony and prompted countless people to spend hours on lines waiting to purchase during those Olympics.

Those berets were made by Roots, a Canadian company that was the official U.S. team outfitter for that opening ceremony. ABC World News reported Wednesday night that the uniforms were made in China.

As United States and Western nations pull out, China seeks role in Afghanistan


Chinese Armed Policemen in Afghanistan. Image: china-defense-mashup.com

Chinese President Hu Jintao and his Afghan counterpart Hamid Karzai will hold talks during a global summit in Beijing this week.

MSNBC | Jun 3, 2012

BEIJING — China and Afghanistan will sign an agreement in the coming days that strategically deepens their ties, Afghan officials say, the strongest signal yet that Beijing wants a role beyond economic partnership as Western forces prepare to leave the country.

China has kept a low political profile through much of the decade-long international effort to stabilise Afghanistan, choosing instead to pursue an economic agenda, including locking in future supply from Afghanistan’s untapped mineral resources.

As the U.S.-led coalition winds up military engagement and hands over security to local forces, Beijing, along with regional powers, is gradually stepping up involvement in an area that remains at risk from being overrun by Islamist insurgents.

Chinese President Hu Jintao and his Afghan counterpart Hamid Karzai will hold talks on the sidelines of the Shanghai Cooperation Organisation summit in Beijing this week, where they will seal a wide-ranging pact governing their ties, including security cooperation.

Afghanistan has signed a series of strategic partnership agreements including with the United States, India and Britain among others in recent months, described by one Afghan official as taking out “insurance cover” for the period after the end of 2014 when foreign troops leave.

“The president of Afghanistan will be meeting the president of China in Beijing and what will happen is the elevation of our existing, solid relationship to a new level, to a strategic level,” Janan Musazai, a spokesman for the Afghan foreign ministry, told Reuters.

“It would certainly cover a broad spectrum which includes cooperation in the security sector, a very significant involvement in the economic sector, and the cultural field.”

He declined to give details about security cooperation, but Andrew Small, an expert on China at the European Marshall Fund who has tracked its ties with South Asia, said the training of security forces was one possibility.

China has signalled it will not contribute to a multilateral fund to sustain the Afghan national security forces – estimated to cost $4.1 billion per year after 2014 – but it could directly train Afghan soldiers, Small said.

“They’re concerned that there is going to be a security vacuum and they’re concerned about how the neighbours will behave,” he said.

Beijing has been running a small progamme with Afghan law enforcement officials, focused on counter-narcotics and involving visits to China’s restive Xinjiang province, whose western tip touches the Afghan border.

Training of Afghan forces is expected to be modest, and nowhere near the scale of the Western effort to bring them up to speed, or even India’s role in which small groups of officers are trained at military institutions in India.

China wants to play a more active role, but it will weigh the sensitivities of neighbouring nations in a troubled corner of the world, said Zhang Li, a professor of South Asian studies at Sichuan University who has been studying the future of Sino-Afghan ties.

“I don’t think that the U.S. withdrawal also means a Chinese withdrawal, but especially in security affairs in Afghanistan, China will remain low-key and cautious,” he said. “China wants to play more of a role there, but each option in doing that will be assessed carefully before any steps are taken.”

Afghanistan’s immediate neighbours Iran and Pakistan, but also nearby India and Russia, have all jostled for influence in the country at the crossroads of Central and South Asia, and many expect the competition to heat up after 2014.

India has poured aid into Afghanistan and like China has invested in its mineral sector, committing billions of dollars to develop iron ore deposits, as well as build a steel plant and other infrastructure.

It worries about a Taliban resurgence and the threat to its own security from Pakistan-based militants operating from the region.

Pakistan, which is accused of having close ties with the Taliban, has repeatedly complained about India’s expanding role in Afghanistan, seeing Indian moves as a plot to encircle it.

“India-Pakistan proxy fighting is one of the main worries,” said Small.

In February, China hosted a trilateral dialogue involving officials from Pakistan and Afghanistan to discuss efforts to seek reconciliation with the Taliban.

It was first time Beijing involved itself directly and openly in efforts to stabilise Afghanistan.

Afghan foreign ministry spokesman Musazai said Kabul supported any effort to bring peace in the country. “China has close ties with Afghanistan. It also has very close ties with Pakistan and if it can help advance the vision of peace and stability in Afghanistan we welcome it.”

Majority of US warships moving to Asia

Defense secretary provides first details of new strategy

MSNBC | Jun 2, 2012

By David Alexander

SINGAPORE — The United States will move the majority of its warships to the Asia-Pacific in coming years and keep six aircraft carriers in the region, Defense Secretary Leon Panetta said on Saturday, giving the first details of a new U.S. military strategy.

Speaking at an annual security forum in Singapore, Panetta sought to dispel the notion that the shift in U.S. focus to Asia was designed to contain China’s emergence as a global power.

He acknowledged differences between the world’s two largest economies on a range of issues, including the South China Sea.

“We’re not naive about the relationship and neither is China,” Panetta told the Shangri-La Dialogue attended by senior civilian and military leaders from about 30 Asia-Pacific nations.

“We also both understand that there really is no other alternative but for both of us to engage and to improve our communications and to improve our (military-to-military) relationships,” he said. “That’s the kind of mature relationship that we ultimately have to have with China.”

Some Chinese officials have been critical of the U.S. shift of military emphasis to Asia, seeing it as an attempt to fence in the country and frustrate Beijing’s territorial claims.

Panetta’s comments came at the start of a seven-day visit to the region to explain to allies and partners the practical meaning of the U.S. military strategy unveiled in January that calls for rebalancing American forces to focus on the Pacific.

The trip, which includes stops in Vietnam and India, comes at a time of renewed tensions over competing sovereignty claims in the South China Sea, with the Philippines, a major U.S. ally, and China in a standoff over the Scarborough Shoal near the Philippine coast.

The South China Sea is a flashpoint but, with about 90 percent of global trade moving by sea, protecting the teeming shipping lanes in the Indian Ocean and the Strait of Malacca is equally vital.

“Maritime freedoms cannot be the exclusive prerogative of a few,” Indian Defence Minister A.K. Antony told the forum. “We must find the balance between the rights of nations and the freedoms of the world community.”

Overlapping maritime claims – often fuelled by hunger for oil, gas, fish and other resources – are compounded by threats from pirates and militants, delegates said.

China’s ‘critical role’

China has downgraded its representation to the Shangri-La Dialogue from last year, when Defence Minister Liang Guanglie attended and met then-U.S. Defense Secretary Robert Gates. This year the Chinese military was represented by the vice president of Academy of Military Sciences.

Panetta, by contrast, was accompanied by General Martin Dempsey, the military’s top officer as chairman of the Joint Chiefs of Staff, and Admiral Samuel Locklear, the head of the U.S. Pacific Command.

Panetta said he was committed to a “healthy, stable, reliable and continuous” military-to-military relationship with China but underscored the need for Beijing to support a system to clarify rights in the region and help to resolve disputes.

“China has a critical role to play in advancing security and prosperity by respecting the rules-based order that has served the region for six decades,” he said.

Fleshing out details of the shift to Asia, Panetta said the United States would reposition its Navy fleet so that 60 percent of its warships would be assigned to the region by 2020, compared to about 50 percent now.

The Navy would maintain six aircraft carriers assigned to the Pacific. Six of its 11 carriers are now assigned to the Pacific but that number will fall to five when the USS Enterprise retires this year.

The number will return to six when the new carrier USS Gerald R. Ford is completed in 2015.

The U.S. Navy had a fleet of 282 ships, including support vessels, as of March. That is expected to slip to about 276 over the next two years before beginning to rise toward the goal of a 300-ship fleet, according to a 30-year Navy shipbuilding projection released in March.

But officials warned that fiscal constraints and problems with cost overruns could make it difficult to attain the goal.

Regional partnerships

Panetta underscored the breadth of the U.S. commitment to the Asia-Pacific, noting treaty alliances with Japan, South Korea, Thailand, the Philippines and Australia as well as partnerships with India, Singapore, Indonesia and others.

He said the United States would attempt to build on those partnerships with cooperative arrangements like the rotational deployment agreement it has with Australia and is working on with the Philippines.

Panetta said Washington also would work to increase the number and size of bilateral and multilateral military training exercises it conducts in the region. Officials said last year the United States carried out 172 such exercises in the region.

45 Signs That China Is Colonizing America

endoftheamericandream.com | May 29, 2012

Just because you were once the most powerful nation on earth does not mean that you will always be the most powerful nation on earth.  Every single year, hundreds of billions of dollars leaves the United States and goes to China.  This enormous transfer of wealth has had a dramatic effect on both countries.  In case you haven’t noticed, many of our formerly great manufacturing cities such as Detroit are rotting away while shining new factories and skyscrapers are going up all over China.  If you go into any major retail store today and start turning over products, you will find that hundreds of them have been made in China and that very few of them have been made in America.  As a nation, we buy far, far more from China than they buy from us.  As a result, China is absolutely swimming in cash and they have been looking for things to do with all that money.  One thing that China has done is loan the U.S. government over a trillion dollars and this has given the Chinese a tremendous amount of leverage over us.  China has also started to buy up businesses, real estate and natural resources all over America.  This kind of “economic colonization” is similar to what China has already been doing in Africa, South America and Australia.  The formula is actually very simple.  We send them our money and then they use it to buy us.  With each passing day China’s ownership over America grows, and it is frightening to think about where all of this could end.

The following are 45 signs that China is colonizing America….

#1 It was recently announced that China’s Dalian Wanda Group has bought U.S. movie theater chain AMC Entertainment for a whopping 2.6 billion dollars.  This deal represents China’s biggest corporate takeover of a U.S. firm ever.

#2 Earlier this month, the Federal Reserve announced that it has given approval for banks owned by the Chinese government to buy stakes in U.S.-owned banks.

#3 A few days ago Reuters reported that China is now able to completely bypass Wall Street and purchase U.S. debt directly from the U.S. Treasury Department.

#4 A recent investigation by the U.S. Senate Committee on Armed Services found more than one million counterfeit Chinese parts in the Department of Defense supply chain.  How in the world could we be so stupid?

#5 After being bailed out by U.S. taxpayers, General Motors is currently involved in 11 joint ventures with companies owned by the Chinese government.  The price for entering into many of these “joint ventures” was a transfer of “state of the art technology” from General Motors to the communist Chinese.

#6 A Chinese company known as “Sino-Michigan Properties LLC” has purchased 200 acres of land near the town of Milan, Michigan.  The goal is to build a “China City” with artificial lakes, a Chinese cultural center and hundreds of housing units for Chinese citizens.

#7 As I reported on recently, corporations controlled by the Chinese government have been rapidly buying up U.S. oil and gas deposits worth billions of dollars.

#8 Chinese investors have been gobbling up real estate all over New York City.  The following is from a recent Forbes article….

According to a recent report in the New York Times, investors from China are “snapping up luxury apartments” and are planning to spend hundreds of millions of dollars on commercial and residential projects like Atlantic Yards in Brooklyn. Chinese companies also have signed major leases at the Empire State Building and at 1 World Trade Center, the report said.

#9 The Chinese are also doing huge real estate deals in cities in the middle part of the country.  The following example is from an article in the Toledo Blade….

Dashing Pacific Group Ltd., which has already purchased the nearby Docks restaurant complex for $2.15 million, put its $3.8 million offer to buy the southern 69 acres at the Marina District in East Toledo back on the table for approval by Toledo City Council. Additionally, Dashing Pacific Chairman Yuan Xiaohong, in a letter signed in Hangzhou, said the firm wants a two-year option to buy the decommissioned Toledo Edison power plant property on the site.

#10 According to ABC News, major road and bridge projects all over the United States are being built by Chinese companies.  Meanwhile, there are millions upon millions of blue collar American workers that cannot find jobs.  The following is a brief excerpt from a recent ABC News article….

In New York there is a $400 million renovation project on the Alexander Hamilton Bridge.

In California, there is a $7.2 billion project to rebuild the Bay Bridge connecting San Francisco and Oakland.

In Alaska, there is a proposal for a $190 million bridge project.

These projects sound like steps in the right direction, but much of the work is going to Chinese government-owned firms.

“When we subsidize jobs in China, we’re not creating any wealth in the United States,” said Scott Paul, executive director for the Alliance for American Manufacturing.

#11 The new World Trade Center tower is going to include glass that has been imported from China.

More Signs…