US pork giant Smithfield Foods sold to Chinese firm for $4.7bn
Something to think about next time I have a bacon + egg sandwich.
Money talks and I suppose the Chinese have plenty of it.
We outsource our jobs and now we have the growing sales of US based companies to foreign companies. Outsourcing, I do not like, but I think the sale(s) may be a good thing for the US economy (at least short term)
All growth depends upon activity. There is no development physically or intellectually without effort, and effort means work. — Calvin Coolidge
"Under Barack Obama, the only 'change' is that 'hope' is hard to find" - Marco Rubio
This news really doesn't bother me. The Chinese are doing a lot of things right. They are flush with cash. It is inevitable that they will be spending / investing it somewhere. Better in the US than elsewhere.
I was just saying that I haven't ever heard of them. A 4.7B buyout isn't really that big of a deal IMO. I mean, it's not like they are buying out Exxon Mobil or something...
I don't get why people are all up in arms about this. It reminds me of all the Japanese real estate purchases back in the 90s and that didn't exactly work out too well for them. In these cases though I think they'll do better (hindsight helps) but so what if a Chinese company owns a pork company? It's not like US companies don't have/own any companies in China...
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