America, Meet Your New Owners: China Buys Chicago Stock Exchange

http://russia-insider.com/en/america-meet-your-new-owners-chinese-buy-chicago-stock-exchange/ri12685

obama-bows-hu-chinese-overlords-welcome-sad-hill-news1

Obama Paying His Respects

Anyone who attended U.S. schools will attest to the fact that usually you only have two options when it comes to learning a foreign language: It’s either Spanish or French (or maybe Latin, if you are a nerd), and the actual “learning”, if it happens at all, doesn’t begin until the 7th or 8th grade.

We distinctly recall our 8th grade French teacher whispering under his breath, “We should be teaching these poor bastards Chinese.”

Yes, or in Asian Overlord Language, Shì:

One of America’s oldest stock exchanges has just been sold to China.

The 134-year-old Chicago Stock Exchange reached a deal on Friday to be acquired by a Chinese-led group of investors.

The purchase by Chongqing Casin Enterprise Group is the latest U.S. investment made by China and would give the country a foothold in the vast American stock market.

This is not surprising. China has been buying up U.S. assets like a scooter-bound diabetic on a soda-buying spree at Costco. Yesterday Barron’s reported that China has its sights on U.S. manufacturers:

China has started to display a hankering for U.S. and European assets. They’ve made a record $17 billion in offers through Feb. 5, according to Dealogic, bidding on companies producing a range of products—appliances, cranes, chemicals. One large, motivated buyer could be all it takes to make the industrial sector the belle of the ball.

But wait, there’s so much more. In October, a Chinese investment firm shelled out $1.3 billion to buy giant oil fields in Texas, reflecting growing interest from China in U.S. energy resources.

We will end with this somewhat foreboding quote from Bloomberg:

“If you have a U.S. stock exchange that’s primarily satisfying Chinese companies, the regulators are gonna look very closely at it,” Coulson said. “If your core business is listing Chinese companies in the U.S., that’s going to pick up a lot of regulatory scrutiny and caution.”

Time to drop French class?

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3 Responses to America, Meet Your New Owners: China Buys Chicago Stock Exchange

  1. Pierre says:

    It is not necessarily a time to drop French class, since French is a very important language in Africa. Africa holds many important cards (such as oil, minerals, fast GDP growth and a young population).

    While in the Congo, I could watch Chinese movies dubbed in French and the CCTV news bulletin read in French. The Chinese government is actively encouraging its own population to learn French, in order to develop business and generate an interest in Chinese culture worldwide.

  2. Perhaps we should set some regulations on how much a foreign country can own in the financial and other markets that could screw American Interests. If Maddoff And Dodd/Frank can bring America to its financial knees, what could China do to us that would help or not hurt them?

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