A new World Bank report projects that by 2025, foreigners' net ownership of US assets will represent 69 percent of the US GDP.
The foreign owners in question are led by China, other Asia-Pacific countries, and Middle Eastern nations.
The World Bank's numerical projections shouldn't be taken too seriously, but the point it's trying to make - that America is getting owned (literally) by foreigners - should be.
America gets owned by spending money it doesn't have - that is, America has run a persistent trade deficit with the world since 1971.
Some of this deficit spending manifests as foreign ownership of American debt, which puts the U.S. in a vulnerable position at the mercy of its foreign creditors.
Some of it shows up in the form of foreign ownership of American companies.
US-founded companies now wholly owned by foreigners include Firestone, T-Mobile, Holiday Inn, Trader Joe's, CITGO, Anheuser-Busch, and Amoco.
Read more: http://www.ibtimes.com/articles/147...getting-owned-by-foreigners.htm#ixzz1MkdnGnNl
The foreign owners in question are led by China, other Asia-Pacific countries, and Middle Eastern nations.
The World Bank's numerical projections shouldn't be taken too seriously, but the point it's trying to make - that America is getting owned (literally) by foreigners - should be.
America gets owned by spending money it doesn't have - that is, America has run a persistent trade deficit with the world since 1971.
Some of this deficit spending manifests as foreign ownership of American debt, which puts the U.S. in a vulnerable position at the mercy of its foreign creditors.
Some of it shows up in the form of foreign ownership of American companies.
US-founded companies now wholly owned by foreigners include Firestone, T-Mobile, Holiday Inn, Trader Joe's, CITGO, Anheuser-Busch, and Amoco.
Read more: http://www.ibtimes.com/articles/147...getting-owned-by-foreigners.htm#ixzz1MkdnGnNl