Mark Schenck
Scotland GOP
In 2013, during President Obama’s second term as president, representatives of the Communist Government of China sought from and received permission to purchase Smithfield Foods, the world’s largest producer of pork products. Included with the purchase of the processing facilities was 146,000 acres of prime American agricultural heartland.
The deal was valued at nearly $5 billion and was the largest acquisition by the Chinese of an American company. This transaction made the Chinses one of the largest overseas owners of American farmland.
In addition, a company comprised of investors from China purchased and operates 22 area golf courses, several of which are located in the Myrtle Beach area. Recently, a group of Communist Chinese businessmen purchased an additional 29.1 acres of Myrtle Beach oceanfront property from Grande Dunes owner LStar Communities. The purchase price is listed in Horry County records at $25.6 million.
In 2016, again in the last year of Obama’s presidency, General Electric was bought by the world’s largest appliance company — Haier from China — for a whopping $5.4 billion, the largest acquisition of a foreign electronics business in China.
China has perfected a strategy of underpricing competition with its cheap labor, lack of benefits and low overhead. When their competition suffers from losses, China offers them a below market buyout.
Why have the Chinese been allowed to buy American companies and investment property when China limits Americans to owning only their personal residence in China? Americans are allowed to buy stock in Chinese companies, but are denied majority ownership that allow any control.
Some progress has been made recently, however. Black and Decker is reported to be building a $90 million manufacturing plant in Texas. This, some say, is a result of having a successful businessman in charge instead of professional politicians.
China is looking at the future and the raw minerals that will become in shorter supply.
Ethiopia has many valuable resources, such as gold, iron-ore, various types of precious stones, chemicals, oil natural gas and Lithium deposits. Lithium is the main ingredient in today’s modern batteries. Lithium batteries power our cordless tools and is starting to take the place of the gasoline engine in our personal transportation. California has declared gasoline internal combustion automobile engines illegal after year 2036, leaving California to run its autos on batteries.
China offers construction inputs and equipment needed for refining Ethiopia’s mineral resources.
The director-general of the World Health Organization is Ethiopian Dr. Tedros Adhanom Ghebreyesus, who is a major player in China’s dominance of Ethiopia’s natural minerals.
It has been reported that China has also been asked by the Venezuelan government to mine Venezuela’s massive Gold deposits. It seems Venezuelan Socialism and work are not compatible.
Mark Schenck is the former chairman of the Scotland County Republican Party.