The Chinese are Investing in US Real Estate

With China's recent currency devaluation, the Chinese are seeing their investment values shrink. Some are now investing in US real estate. This reminds me a little of the boom and bust from the Japanese investing in US real estate a few decades ago.

http://www.nytimes.com/2015/11/29/business/international/chinese-cash-floods-us-real-estate-market.html?partner=rss&emc=rss&_r=0

The Japanese were doing great in US real estate right up until Bruce Willis blew up the Nakatomi tower in Die Hard.

A few months back Chinese auto maker Geely purchased Utah's Miller Motorsport Park. They have plans to expand the park as well as building up the surrounding area with a hotel etc.

http://www.autoblog.com/2015/08/23/geely-buys-miller-motorsports-park-utah/

Now motorcycle racing will continue in Tooele, UT.

Side note on chines land owners.
They purchased the former Saginaw Steering Gear (SSG, 100yr old co) and now call it Nexteer.
Latest round of wage cuts includes benefits and removal of all union health and safety reps.
Last I heard was starting wages for new hires was $9-10/hr and no bennies.

I'm just waiting for them to close shop and take all the intellectual property with them.

Yes, that's probably the plan. When in Rome....

The US manufacturers have been doing that for some time. Maybe that's US company senior management's last hope of keeping some form of control before the bottom falls out.

The last fiscal year the division operated at a net profit margin of 18% which is extremely well for a brick and mortar operation. The employees were rewarded with an offer of less benefits, higher ins. premiums, cutting holidays etc. No extra profit sharing, no bonuses for the years of cut backs.

They are on strike now.
Universally rejected by production and trades along the lines of 3100/no and 78/yes towards the new contract. Unheard of numbers in my almost 30 yr working career. The general public is clueless how far our mighty nation has fallen. It is a façade, IMO.