"Chinas Economic Rise: History, Trends, Challenges, and Implications for the United States.". This is partly because Japan is seen as a much friendlier nation and because Japans economy has been growing more slowly than Chinas over the last several years. [U]nder Xi Jinping, the Communist party has returned to being the ultimate authority in business," writes The Guardian. Given the state of the AFIDA data, it seems it is doing neither. What Is the Public Debt, and When Is It Too High? China holds more than $1 trillion of the U.S. national debt. Ever since the establishment of theBretton Woods Systemin 1944, the value of Chinas currency, the yuan, has been connected or pegged to the value of the U.S. dollar. Pressing Challenges to U.S. Army Acquisition: A Conversation with Hon. Subsequently, China and other international players would be obligated to accede to an audit that can be reviewed by the nonprofit Public Company Accounting Oversight Board, which oversees audits of all U.S. companies that endeavor to raise money in public markets. While some states have strict laws in place, others are more open to foreign investments. The renewed focus on curbing foreign farm purchases comes as Biden and Agriculture Secretary Tom Vilsack roll out a series of actions to bolster the food supply chain, following major disruptions caused by the pandemic. The coronavirus pandemicmay have shed light on China'sinfluence in America over the supply chain,including life-saving medicines, technologyand equipment. All rights reserved. Two bills introduced in the House of Representatives and the Senate argue foreign influence on American agricultural land could affect Americas economy, food supply, and national security. All rights reserved. What Would Happen if China Were to Call In Its Debt? China also is liberalizing its control of the yuan, also called the "renminbi." By the start of 2020, Chinese owners controlled about 192,000 agricultural acres in the U.S., worth $1.9 billion, including land used for farming, ranching and forestry, according to the. U.S. Debt to China: How Much Is It, and Why? How much of America do foreigners really own? - MarketWatch The NYFC also points to both urban and rural development as a threat to the future of U.S. farms, since converting farmland to other uses drives up prices and makes the land unaffordable for beginning farmers. This has been common practice for many countries ever since the Bretton Woods Conference in 1944. It is not only foreign companies who take advantage of this regulatory loophole, howevercompanies from other states and cities around the United States are also buying up land in Arizona to take advantage of the states loose water regulations, putting Arizonas long-term water resources at risk. The extent of Chinese investment in recent years has also raised red flags around U.S. national security, particularly in the realm of rare earth minerals. It would perpetuate already rising anti-Asian hate, Meng warned at the markup. Though the magazine named him the largest private farmland owner in January 2021, the Microsoft founder came under fire in early 2022 when he was briefly barred from purchasing 2,100 acres of North Dakota farmland. Walmart does not own Dollar Tree as of 2022. The PBOC can print renminbi as needed. Agricultural Land. Instead, Dollar Tree is a self-owned company that itself has acquired numerous national and regional competitors over the years, including Family Dollar and Dollar Bill$. Since 2016, a company owned by Xinjiang-based real estate tycoon Sun Guangxin had spent an estimated $110 million buying up land in Texas' Val Verde County. With the U.S. dollar considered one of the safest and most stable currencies in the world, dollar-pegging helps the Chinese government maintain the stability and value of the yuan. The buying gorge went from April 2021 to March 2022 and . | Photo by Nathan Howard/Getty Images. Gates continues to deny any plot, telling Reddit users in January that he owns less than one four-thousandths of U.S. farmland and invests in farms to improve their production and create jobs. U.S. Department of the Treasury. That data also shows that the approximately 190,000 acres of farmland owned by Chinese interests has remained virtually unchanged since 2013. As of the start of 2020, Chinese investors owned about 192,000 acres of U.S. agricultural land valued at about $1.9 billion, according to Politico. Quote and Meaning, What Was the Eisenhower Doctrine? We are new in this process, said Rep. Sanford Bishop (D-Ga.), chair of the agriculture appropriations subcommittee. That effort includes greater scrutiny of large meat processing companies like JBS and Smithfield, as well as plans to tighten the requirements for meat to be labeled a Product of the USA.. All Rights Reserved. House lawmakers recently advanced legislation to that effect, warning that Chinas presence in the American food system poses a national security risk. TUCKER CARLSON, FOX NEWS: So how would you define the Biden administration? "General Government Gross Debt.". However, the items are Manufactured and Assembled in China, with Foxconn, a Taiwanese-based firm, producing the majority of Apple's products. How much do banks charge to manage a trust? Number of U.S. properties bought by Chinese 2022 | Statista More than 200 foreign firms mostly Chinese with a combined market capitalization of almost $2 trillion are said to not be meeting this standard; so their stocks are traded, but U.S. investors have limited insight into what is going on internally with the companies. You can learn more about the standards we follow in producing accurate, unbiased content in our. The Chinese government uses U.S. dollars it has on hand to buy Treasurys. Pallets of sod cover part of the 230 acre Kuenzi Turf & Nursery on June 2, 2021 in Salem, Oregon. Japan held 1.24 trillion U.S. dollars. TreasuryDirect. The post, which has been shared over 256,000 times as of April 14, is headlined with "read this before buying meat." "The hogs will still be raised here, but slaughtered and packaged for . Citing the nonpartisan economic think-tank Paulson Institute, the American Security Institutereport underscores that "Chinese firms and investors own a controlling majority in nearly 2,400 U.S. Directly accessible data for 170 industries from 50 countries and over 1 million facts: Get quick analyses with our professional research service. In addition, many economists contend that the reported U.S. debt should include at least another $120 trillion in unfunded future liabilitiesmoney the government does not currently have but is legally obligated to pay people in the future. The average American is made better off by foreigners providing inexpensive services and only demanding pieces of paper in return. Those seeking more restrictions say USDAs numbers actually understate the amount of foreign control over American ag operations. The products are still made in the USA, but the decisions are made in China. Canadian investors hold the largest share of this land, at 29 percent, with the Netherlands, Italy, Germany, and the United Kingdom collectively owning another 33 percent. Nations borrowing from each other may be as old as the concept of money. However, the concept of foreign debt carries a negative connotation, especially when it concerns large amounts owed to nations embroiled in controversy. U.S. Debt to China: How Much Is It, and Why? - The Balance (Smithfield said in a later statement pertaining to their ownership structure that they are "a U.S. company that provides more than 40,000 American jobs and partners with thousands of American farmers. This statistic shows the total number of residential properties purchased by Chinese buyers in the United States from 2010 to 2021. Japancommands the top spot among foreign creditors with $1.2 trillion4% of total U.S. debtowed by the U.S. government. Robert Longley is a U.S. government and history expert with over 30 years of experience in municipal government and urban planning. | The total has grown by an average 2.3 million acres per year since 2015, according to USDA data. Policymakers should, instead, consider the many threats facing the future of the U.S. food system and ensure that current and aspiring farmers have the resources they need to secure long-term U.S. food production, starting with access to affordable farmland. Congressional Research Service. Japan consistently tops the list, owning about $1.3 trillion as of October 2021. While a large portion of Smithfield pork was already being exported to China prior to the acquisition, the Covid-19 crisis raised concerns about Chinese control of U.S. food supply chains. "China's Gold Market: Progress and Prospects," Page 2. Of the 109 countries that own U.S. agricultural land, China ranks No. I would suggest that we sit down and we work through it so we can accomplish our objective, but do it in a way that is sensitive to all those who might be somewhat offended by the approach.. 1616 Rhode Island Avenue, NW As a Premium user you get access to background information and details about the release of this statistic. Is it better to pay off credit card or pay down? Its a massive undertaking to verify who really owns [the land], Maxwell said. ", Get all the stories you need-to-know from the most powerful name in news delivered first thing every morning to your inbox. to incorporate the statistic into your presentation at any time. Q3: What regulations are currently in place? The vast majority of this land is farmland, but the Chinese government and investors also own other kinds of real estate. These include white papers, government data, original reporting, and interviews with industry experts. According to USDA data, foreign investors owned at least 35.2 million acres of U.S. agricultural land in 20192.7 percent of U.S. farmland, an area almost the size of Iowa. Nonagricultural land (such as homesteads and roads) accounted for 2%. Bill Gates owns almost as much U.S. agricultural land as China at 248,000 acres, according to The Land Report. But the contrition paid off: F9 grossed $136 million in China its first weekend, nearly double its . Alibaba handles more business than any other e-commerce company. Foreign investors by the end of 2019 held an interest in more than 35 million acres an area bigger than New York State. World Gold Council. The best of the best: the portal for top lists & rankings: Strategy and business building for the data-driven economy: Industry-specific and extensively researched technical data (partially from exclusive partnerships). Longley, Robert. WH Group is a publicly-traded company with shareholders around the world. Cena's apology made him a darling to Chinese nationalists and a punching bag for U.S. media. How can I increase my credit score by 25 points? As a Premium user you get access to the detailed source references and background information about this statistic. Greed Is Good or Is It? Center for Strategic and International Studies To use individual functions (e.g., mark statistics as favourites, set This includes everyone from retirees who purchase individual U.S. Treasurys to the Chinese government. By the start of 2020, Chinese owners controlled about 192,000 agricultural acres in the U.S., worth $1.9 billion, including land used for farming, ranching and forestry, according to the Agriculture Department. The largest holder of U.S. debt is the United States government. According to the International Monetary Fund (IMF), the only nation with no national debt is Macao SAR. Conspiracy theorists suggested Gates was buying up millions of acres of U.S. farmland for nefarious reasons, according to the fact-checking service Snopes, with some claiming that Gates owned 80% of all U.S. farmland. Land grabbingwhen a government, company, or other entity purchases large swathes of land in another countrycan affect local land rights and agricultural production, sometimes putting local food security at risk. Its three main sites Taobao, Tmall and Alibaba.com have hundreds of millions of users, and host millions of merchants and businesses. Foreign-owned land accounts for about 2.7% of all U.S. farmland and forest land, which, according to the Department of Agriculture, is about 897 million acres. 1 Canada (12.8 million acres) and even and the Cayman Islands (672,000). There are two main economic reasons Chinese lenders bought up so many U.S. Treasury securities. Indeed, there has been a tenfold expansion of Chinese ownership of farmland in the United States in less than a decade. Consequences of Owing Debt to the Chinese, Government Bond: What It Is, Types, Pros and Cons, Repurchase Agreement (Repo): Definition, Examples, and Risks, U.S. Debt Ceiling: Definition, History, Pros, Cons, Clashes, Debt-to-GDP Ratio: Formula and What It Can Tell You, Major Foreign Holders of Treasury Securities, Debt Position and Activity Report, June 2017, Debt Position and Activity Report, June 2022, Your Pension Is a Lie: There's $210 Trillion of Liabilities Our Government Can't Fulfill, Frequently Asked Questions About the Public Debt, China's Gold Market: Progress and Prospects, Federal Debt Held by Federal Reserve Banks. How America got outmaneuvered in a critical mining raceTucker Carlson: America's Leadership Class Spent Years Covering Up Appliances (technology), IBMP.C. Legal Statement. While foreign land ownership has been reported in all 50 states and Puerto Rico, the holdings are concentrated in particular states. "GDP Growth (Annual %) - China. While their market shares may be different percentages (Amazon owns 39% of all US ecommerce sales, while Alibaba owns 58.2% of all retail ecommerce shares in China), they each dominate their respective countries in which they began. She is a library professional, transcriptionist, editor, and fact-checker. Even at a slow pace, dollar demand would drop. ", Total number of residential properties bought by Canadian buyers in the U.S. 2010-22, Total property sales to foreign buyers in the U.S. 2010-2022, Share of Indian buyers of residential property in the U.S. 2011-2022, Total number of residential properties purchased by Indian buyers in the U.S. 2010-22. Michael Boyle is an experienced financial professional with more than 10 years working with financial planning, derivatives, equities, fixed income, project management, and analytics. The USDA reports that the changes in pasture and crop land holdings since 2009 were mostly due to foreign-owned wind companies signing or terminating long-term leases. Foreign entities buy agricultural land for a variety of reasons, such as food production, wind farming, carbon offsets, or speculative investments. For its part, China owned 191,000 acres worth $1.9 billion as of 2019. The debt-to-GDP ratio measures the proportion of a country's national debt to its gross domestic product. Among all of those foreign creditors to which America owes money, China led the way at $1.17 trillion, followed by Japan, at $1.07 trillion as of January 2018. The remaining 38 percent is held by entities from almost a hundred other countries. This acquisition put two Chinese directors on Hilton's Board of 10. You only have access to basic statistics. How much of Chinese industry is state-owned? Owning U.S. Treasury notes helps China's economy grow. Profit from the additional features of your individual account. ", The World Bank. 2 Which Country Owes the Most Money to China? Register in seconds and access exclusive features. Even if these bills had passed, they would have strengthened oversight on purchases of U.S. companies, not agricultural land specifically, leaving most land acquisitions unregulated. This statistic is not included in your account. When this land changes hands, theyre going to gobble it up, he said of foreign buyers. And while the U.S. grants China permission to buy its companies, China does not allow U.S. companies to operate the same way on their soil. Along similar lines, climate-related efforts to increase biofuel production and expand afforestation and reforestation could reduce the amount of land available for food production in the future. In May 2018, one Chinese yuan was worth about $0.16 U.S. dollar. How Much U.S. Farmland Does China Really Own? More Than Bill GatesAnd China Daily, which is controlled by the Chinese Communist Party, has paid more than $4.6 million to The Washington Post and . The last significant increase in acres occurred between 2012 and 2013 . This is just a small part of the 30 . How much of the U.S. land does China own? "Federal Debt Held by Federal Reserve Banks. Jamie Lutzisaresearchassociatewiththe Global Food Security Program at the Center for Strategic and International Studies (CSIS) in Washington, D.C. Caitlin Welsh is the director of the CSIS Global Food Security Program. Food insecurity among U.S. families is primarily driven by poverty, not a lack of food. We also reference original research from other reputable publishers where appropriate. Rep. Grace Meng, D-N.Y. speaks during a news conference on Capitol Hill, on May 27, 2020, in Washington. That's a large portion of the $7.6 trillion in Treasury bills, notes, and bonds held by foreign countries. They hold 50% of total shares through Walton Enterprises LLC and Walton Family Holdings Trust. ", Harvard Business Review. Can you rollover Roth 401k to Roth IRA while still employed? The other 189,000 acres were worth $235 million when purchased and are owned by 62 U.S. corporations with Chinese shareholders. Show publisher information "Major Foreign Holders of Treasury Securities [2000-2020]. Please create an employee account to be able to mark statistics as favorites. The Pentagon released a list of 20 companies that it says are owned or controlled by Communist China's military and operate in the US - including tech giant Huawei, according to a report. According to sources, Time Magazine received $700,000, the Financial Times $371,577, Foreign Policy Magazine $291,000, the Los Angeles Times $272,000, and other notable media outlets received more than $1 million. Manuel Balce Ceneta/AP Photo. Indeed, there has been a tenfold expansion of Chinese ownership of farmland in the United States in less than a decade. Many Americans find the brand appealing because it has a "Made in America" stamp on its products, however, the company has been owned by Chinese company Haier since 2016. China "Owns" Us: How the Chinese Are Buying Up America A4: Since the 2013 purchase of Smithfield Foods, multiple bills have been proposed to provide more oversight of foreign investments in U.S. agricultural companies (including in 2017 and 2020), but until recently they each died in committee. The 2011 U.S. Debt Ceiling Crisis was a contentious debate on the borrowing limit of the United States government in July 2011. Accessed March 04, 2023. https://www.statista.com/statistics/611020/total-number-of-properties-purchased-by-chinese-buyers-in-the-us/. Sean Rayford/Getty Images, America cannot allow China to control our food supply, Pence said Wednesday during a speech at the conservative Heritage Foundation, urging President Joe Biden and Congress to end all farm subsidies for land owned by foreign nationals..
