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China’s Buying Spree of U.S. Businesses

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  • Description

    FBN’s Lou Dobbs on the growing number of Chinese companies investing in U.S. businesses.

  • Duration 4:07
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China's on -- buying spree and China's buying up taxpayer -- American companies with critical technology.

And ties to national security.

And they've gone well.

Most of them belly up.

Here a few of the Chinese pick me ups.

That have taxpayer.

Funded advanced technology that the Chinese will be.

-- picking up or let's say a bargain basement price.

But we'll start with -- -- automotive this for automotive received nearly 530.

Million dollar.

And I'll I'll call it.

-- -- twelve of them formal long Charlie 500 and.

Thirty million dollars taxpayer money in 2009 to bill so called green vehicles.

And by the way the company said they didn't really need the money but here it is four years later -- struggling carmaker.

Now weighing bids from two Chinese companies -- wanna buy a majority stake -- this for Plano needed all they just need the technology.

You know -- spent all that money it means our tax dollars we'll end up boosting the Chinese economy certainly.

But it is certainly not the first time either remember the battery company.

They 123 systems that is one of the lousy is trade style business names ever hurt.

A -- name and the -- the -- Back in 2000 I received an early 250.

Million dollar.

Tax -- your.

Long.

-- From the Department of Energy -- grant to build lithium ion batteries.

-- lots of fun with those are in October of last year it filed for bankruptcy last last month by.

The committee on foreign investment in the United States horses don't -- he has gave China's largest auto parts -- approval.

To -- A 123.

And with that all of the technology.

All of that taxpayer money.

Awe and by the way did I mention -- -- this is just made up of representatives of the Obama administration.

It rubber stance of policy and that's what it's been doing it doesn't appear by the way China's and the slowdown according to deal logic.

Chinese buyer -- spent a record it was more than ten billion dollars last year.

Ten billion.

Dollars.

On 46 deals 46 deals.

To buy American.

Companies or by state in the but top the previous record of nearly nine billion have been set back in 2007.

So what does the Obama administration don't.

Well -- are supposed to be safe currency fears for example the committee on foreign investment in the United States however is it's made up of all those administration officials.

Who rubber stamp everything there's not much that can be done and earlier this month -- rubber stamped 815.

Fifteen billion dollar deal.

I and I love it.

For their portion.

Of the Canadian company that.

Well homes -- The rights to -- on the Gulf of Mexico.

C you know the Chinese oil company buying the Canadian oil and gas company.

Just they simply -- at all and the deal required approval because Nixon as those significant assets but it it was only a pro forma matter.

You know what's more embarrassing is that the Obama administration just keeps spending.

Millions upon millions of dollars on green energy companies like these that have gone belly up of those on the verge of it so wonder.

500 million dollars beacon power -- 43 million.

In -- 119.

Million dollars all these companies.

The Chinese don't want me I am hoping is that to topple off you know everybody talks are free trade.

Did you notice Americans are going and buying.

Companies in China because they can't.

They practically and effectively and invest in minority.

Levels in Chinese companies they can become a minority partner.

And I'm like American regulators the Chinese aren't shy about saying.

No.

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