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And lots of companies buying ANC -- the largest movie theater chain in the US.
And -- kind of from more than two and a half billion dollars making it China's largest corporate takeover in the US ever.
But how does this time from taken over the entire US we -- -- economist Peter Larry -- Peter I know you've been hot on this for awhile now but.
AMC entertainment purchased.
A big deal.
Absolutely as -- folks might not recognize is exhibitors as as theaters or call them in the Hollywood business.
I have -- -- can't have a lot to say about what producers make because they can control what goes up on those screens.
And -- movies that might not be sympathetic to China or might not be sympathetic to their view of the world could easily find themselves not getting into theaters.
And then this could influence.
You know what what produces are able to make and make a profit.
That's a corporate transactions so I'm when he and you don't wanna -- we don't know close our borders we don't -- ourselves in we wanna allow and need to happen.
On the flip side though you have the Federal Reserve recently approving China's application to buy it US subsidiary of -- bank of the US subsidiary.
And then we also hear recently that now.
That China's central banking ocean to rate the -- and buying treasuries themselves there's no world block anymore that's something -- little.
Well it's not sketchy -- may.
China's got special access when it -- US treasury securities that other governments don't have.
They can -- they can bid for those securities.
Right alongside Goldman Sachs and and Citigroup and JPMorgan as a primary dealer in government securities.
No other government in the world.
Has that access why because it's so large.
Why is -- so large you know our choice and it holds a trillion dollars in US -- because -- never done anything about -- huge trade deficit we have with China you know our trade deficit with China.
It's 300 billion dollars a year.
What that much money -- taken by a 150.
AMC's every year.
And it's scary no I mean that scares me that China's -- in next to JPMorgan all vying for the same treasury.
It scares me that -- -- buying next to JPMorgan for the same treasuries and it also scares me that they're they're buying AMC.
Why well be in Chinese companies that come here you know they often have.
Have significant government connection.
Which means significant connection to the Chinese Communist Party.
You know they are you know that there isn't this separation of the private sector and the public sector in China.
As we know it here it's capitalism but what are very Asian flavor and it as a consequence.
You know how they invest has something to do it their foreign policy there are real issues of American sovereignty here.
-- -- Capitalism I think it's called communism right can be ended today well I always try not to name.
I was trying not to -- Bay -- but that's different but that's exactly what I'm what I'm talking about but yeah.
You know we we seem to think that you know we just embraced the Chinese in trade with them they'll become more and more like gusts.
Then you know the world is how growing chorus that America we caught the Americans -- to becoming more like them.
Right and you bet number look we know they don't audit financial statements they don't have an FDA there's no policy national rules and regulation so they are if it seems coming.
Like they're -- -- -- to take a silver are they doing isn't any other country or is it just kind of all eyes on the US.
Oh no this.
Reading their tentacles around the world because they wanna be the new rule maker they wanna be the new hedge Iran.
You know and we have created a system -- we're based on human rights and and free markets through the WTO in the United Nations and all these international institutions conservatives rail against.
But a reality all the infrastructure of an open and transparent global economy.
And the Chinese really don't like them very well.
They're buying up -- -- and handle it in Australia they're buying every sources in Africa and wherever those dollars go it makes it tougher.
For us to sell our brand of capitalism.
-- -- our brand of democracy around the world.
Sneaking he Mary C university -- an economic profess their wish I had your class -- base there.
Thank you very -- nice.
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