"Will Toledo, Ohio Be The First Major American City To Be Owned By China?"

[newworldafro]

Half of article......

Will Toledo, Ohio Be The First Major American City To Be Owned By China?

Will Toledo, Ohio Be The First Major American City To Be Owned By China?

It has been said that there are two ways to conquer and enslave a nation. One way is by using the sword, and the other is by using debt. Fortunately, America is not in danger of being conquered by the sword right now, but America is being conquered by debt. The borrower is the servant of the lender, and today we owe China more than a trillion dollars. By running a gigantic trade deficit with us, China has been able to become incredibly wealthy. We have begged them to lend us back some of the money that we have sent them and this has made them even wealthier. Now China is gobbling up U.S. real estate and U.S. assets at an astounding pace. In fact, some cities are in danger of becoming completely dominated by Chinese ownership. One of those cities is Toledo, Ohio. In many "rust belt" areas, real estate can be had for a song, and the Chinese are taking full advantage of this. America was once the wealthiest nation on earth, but now we are drowning in debt and we are being sold off in chunks to the highest bidder. Is this the legacy that we are going to leave for future generations?

According to a recent Fortune article, Chinese investors have been very busy purchasing distressed commercial real estate in Toledo lately....

In March 2011, Chinese investors paid $2.15 million cash for a restaurant complex on the Maumee River in Toledo, Ohio. Soon they put down another $3.8 million on 69 acres of newly decontaminated land in the city's Marina District, promising to invest $200 million in a new residential-commercial development. That September, another Chinese firm spent $3 million for an aging hotel across a nearby bridge with a view of the minor league ballpark.

Toledo is being promoted to Chinese investors as a "5-star logistics region". From Toledo it is very easy to get to Chicago, Detroit, Cleveland, Pittsburgh, Columbus and Indianapolis.

With a population of 287,000, Toledo is only the fourth largest city in Ohio, but it lies at the junction of two important highways -- I-75 and I-80/90. "My vision is to make Toledo a true international city," Toledo's Mayor Mike Bell told the Toledo Blade.

For some reason the Chinese seem to be very interested in that area of the country. Last month, I wrote about how one Chinese group plans to develop a 200 acre "China city" just 40 minutes away from Toledo....

A Chinese group known as "Sino-Michigan Properties LLC" has bought up 200 acres of land near the town of Milan, Michigan. Their plan is to construct a "China City" with artificial lakes, a Chinese cultural center and hundreds of housing units for Chinese citizens. Essentially, it would be a little slice of communist China dropped right into the heartland of America. This "China City" would be located about 40 minutes from both Detroit and Toledo, and it would be marketed to Chinese business people that want to start businesses in the United States.

But it is not just the rust belt that is being bought up by the Chinese. A recent Forbes article documented several of the huge real estate deals that the Chinese are doing in New York right now....

According to a recent report in the New York Times, investors from China are “snapping up luxury apartments” and are planning to spend hundreds of millions of dollars on commercial and residential projects like Atlantic Yards in Brooklyn. Chinese companies also have signed major leases at the Empire State Building and at 1 World Trade Center, the report said.

In addition to real estate, the Chinese are also buying up businesses and natural resources all over the United States.

 

[alybaba]

Being owned by Chinese people is not the same as being owned by China. Silly scare tactics once again.

 

[ogc163]

 

[Economics]

Foreign Direct Investment is a good thing majority of times (barring any fraud or manipulative actions), but FDI or any investment would be great for the rest belt areas in (northwest OH and southeast MI) especially, as wealthy americans aren't investing/developing as much or squatting on properties in those areas that those Chinese want to invest in. Let them go for it, our corporations been investing in China for decades now let their people return the favor.

I applaud the Toledo mayor for trying to rebrand/redevelop that city and if he can make things happen that's a great thing for them and that brother in particular, he's the only second black mayor to be elected there so hope it works out for him.

 

[Maumee]

im from toledo. and what they're buying is one small fraction of one small district of the city.

no different from a chinese guy opening up one small chinese antique store in the middle of a huge mall.

a blip on the radar.

if anything, its good for the city.

 

[SubLyminalz]

toledo is a major american city

 

[theworldismine13]

toledo is a major american city

it will be soon

 

[Meta Reign]

Had the Chinese government buy all or most of Toledo's municipal bonds, and Toledo in turn defaulted on those bonds then courts enforced that the Chinese government now owns Toledo, Ohio's assets. THEN you only MIGHT be able to make the case that Toledo is now owned by China. But the OP's scenario is NOT that, at all.