These American companies are now owned by China?

Monday, December 2, 2019  

Charlee | whatsonpolitics.com
October 24, 2019

Talks of the United States and China being pitted against each other over who is number one, who is bigger, and who is more powerful have been going around for quite a while now. When President. Donald Trump launched a trade war with China “to fix unfair trade practices”, we saw tensions spike. What this approach did was bring something clear to everyone that they might never have seen before — China has become powerful, influential, and extremely wealthy on the other side of the world. To the point that it can stand up to the US, as it is doing now.

It wasn’t until recently that it hit hard — China’s influence has grown so big that it could very well be felt back home. In something more familiar to us, like Hollywood, and recently, the NBA. But what we might not be aware of is the fact that it’s been there for a while as some of America’s most famous brands have actually fallen into foreign hands.

Here, we’ve put together a list of some American companies that are no longer able to truly call themselves American but are bought out by Chinese conglomerates:


1. General Electric (GE)
 
General Electric appliances have been a household name in the US from refrigerators, air conditioning, stoves, washer and dryers since 1962, with special thanks to their “Made in America” logo that makes their products appeal more to Americans.

But, what many may not know, is that while GE appliances are still “Made in American,” the iconic US brand is already Chinese owned. In 2016, GE was bought by the world’s largest appliance company — Haier from China for a whopping $5.4 billion, the largest acquisition of a foreign electronics business in China.

GE Appliances is still headquartered in Louisville, Kentucky, but you know now that its real motherland is now in Qingdao, China.



2. AMC Theatres
 
America’s biggest movie theater chain is sadly not American anymore. AMC was bought out by Beijing-based Dalian Wanda Group in a $2.6 billion deal in May 2012.

The American cinema operator, who has over 8,200 screens in their 661 cinemas across the US was acquired by Chinese businessman Wang Jianlin, who reportedly has a penchant for Hollywood.

The Chinese conglomerate also bought Georgia-based motion picture exhibitor Carmike Cinemas for $1.2 billion.

Reports said that its chairman, Jianlin, also offered to buy a majority stake in American film studio, Paramount Pictures, but was rejected.

So the next time you visit AMC for a movie, at least you already know.


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