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In return, American consumers get cheap Chinese products and incoming investment capital. 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.. In addition, the U.S. Treasury Department has a proven track record of being able to find new creditors very quickly when needed. Its also a small percentage of the nearly 900 million acres of total American farmland. TreasuryDirect. Walmart Inc. is the largest retailer in the world and one of the five largest corporations in the world by sales. "Total Number of Residential Properties Purchased by Chinese Buyers in The United States from 2010 to 2022. Available: https://www.statista.com/statistics/611020/total-number-of-properties-purchased-by-chinese-buyers-in-the-us/, Total number of residential properties purchased by Chinese buyers in the United States from 2010 to 2022, Available to download in PNG, PDF, XLS format, Cross-border commercial real estate investment in the United States, Origin of foreign residential buyers in the U.S. 2016-2018, Cross-border commercial real estate investments in the U.S. 2018, by country, Number of commercial properties in the U.S. 2018, by investor country, Property purchased by foreign buyers in U.S. 2009-2022, by type of area, Share of commercial space leased by foreign clients U.S. 2018, by size, Share of commercial space leased by foreign clients U.S. 2018, by lease term, Perception of real estate market among foreign investors in U.S. 2016-2018, Perception of U.S. real estate prices among foreign buyers 2018, Reasons why foreign buyers don't buy real estate in the U.S. 2019, Share of Chinese buyers of residential property in the U.S. 2011-2022, Total residential property sales to Chinese buyers in the U.S. 2010-2022, Total number of residential properties bought by Chinese buyers in the U.S. 2010-22, Average purchase price of residential property by Chinese buyers in the U.S. 2010-22, Median purchase price of residential property by Chinese buyers in the U.S. 2010-2022, Share of CRE investments from China/Hong Kong in the U.S. 2011-2017, by investor type, Value of China/Hong Kong CRE investments made in the U.S. 2011-2017, Share of Canadian buyers of residential property in the U.S. 2011-2022, Total residential property sales to Canadian buyers in the U.S. 2010-2022, Average purchase price of residential property by Canadian buyers in the U.S. 2010-22, Median purchase price of residential property by Canadian buyers in the U.S. 2010-22, Share of UK buyers of residential property in the U.S. 2011-2022, Total residential property sales to buyers from the UK in the U.S. 2010-2021, Total number of residential properties purchased by UK buyers in the U.S. 2010-2021, Average purchase price of residential property by UK buyers in the U.S. 2010-2021, Median purchase price of residential property by UK buyers in the U.S. 2010-2021, Total residential property sales to Indian buyers in the U.S. 2010-2022, Average purchase price of residential property by Indian buyers in the U.S. 2010-2022, Median purchase price of residential property by Indian buyers in the U.S. 2010-2022, Share of Mexican buyers of residential property in the U.S. 2011-2022, Total residential property sales to Mexican buyers in the U.S. 2010-2022, Total number of residential properties bought by Mexican buyers in the U.S. 2010-2022, Average purchase price of residential property by Mexican buyers in the U.S. 2010-22, Median purchase price of residential property by Mexican buyers in the U.S. 2010-2022, Average price of residential property in France 2022, by property type, Breakdown of housings in France 2020, by square meter price, Average price of rental flats per square meter in France 2020, Average rent price for apartments in the largest French cities 2022, Value of commercial real estate investment in France 2021-Q1 2022, by type, Origin of major foreign buyers of U.S. residential property in 2022, Share of Brazilian buyers of residential property in the U.S. 2011-2020, Share of German buyers of residential property in the U.S. 2011-2020, Housing purchase transactions volume Jeju, South Korea 2009-2021, Housing transactions volume Busan, South Korea 2009-2021, Housing transactions volume Gyeonggi, South Korea 2009-2021, Housing purchase transactions volume Gyeonggi, South Korea 2009-2021, Housing transactions volume Jeju, South Korea 2009-2021, Realtors' sources of referrals for foreign residential property buyers U.S. 2022, Apartment purchase transactions volume Incheon, South Korea 2009-2021, Find your information in our database containing over 20,000 reports, Chinese buyers were responsible for only six percent of all sales to foreigners, bought the most U.S. residential property, property sales to foreign buyers peaked at 153 U.S. dollars in 2017. 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. This acquisition put two Chinese directors on Hilton's Board of 10. Of that, 195,000 acres, worth almost $2 billion when purchased, are owned by 85 Chinese investors, which could be individuals, companies or the government. Q1: Where and why are foreign entities purchasing farmland in the United States? (Other Hollywood companies are partly or wholly owned by Chinese interests We know that education is one of the most common reasons that Chinese families purchase real estate in the US, he said. The United States currently produces more than enough food per capita, even after adjusting for food waste. China produces 97 percent of U.S. antibiotics and about 80 percent of active pharmaceutical ingredients used in American drugs, giving the Chinese Communist Party absolute control of. The Senate Bill is being reviewed by the Committee on Banking, Housing and Urban Affairs. "The Chinese have a strong foothold here in the U.S., and Chinese firms have access to what seems like infinite government lending, and because the country's goal of world dominance is ingrained into the minds of their business leaders," explained Paul Murad, president of Nevada-based real estate firm Metroplex. Owe China? ", National Association of Realtors, Total number of residential properties purchased by Chinese buyers in the United States from 2010 to 2022 Statista, https://www.statista.com/statistics/611020/total-number-of-properties-purchased-by-chinese-buyers-in-the-us/ (last visited March 04, 2023), Total number of residential properties purchased by Chinese buyers in the United States from 2010 to 2022 [Graph], National Association of Realtors, July 18, 2022. But the contrition paid off: F9 grossed $136 million in China its first weekend, nearly double its . A government bond is issued by a government at the federal, state, or local level to raise debt capital. Focusing narrowly on land purchases by Chinese companies or other foreign entities will not address the full scope of this problem. Christmas in Mainland China is not a public holiday and is not related to religion at all. Understanding the actual extent and impact of Americas debt to China requires a closer look at these massive amounts of money. Newt says China will 'dominate world' if tech theft isn't stopped, 'it's a matter of life and death', share data with Chinese communist spy agencies. "He firmly believes that China, before the year [20]30, '35, is going to own America because autocracies can make quick decisions." The president did not elaborate on what was meant by "own. Financing for these huge annual IOUs comes from the Department of the Treasury and the Federal Reserve. Additionally, Walmart has never owned Dollar Tree and has no plans to acquire the business. Cookies collect information about your preferences and your devices and are used to make the site work as you expect it to, to understand how you interact with the site, and to show advertisements that are targeted to your interests. "Total number of residential properties purchased by Chinese buyers in the United States from 2010 to 2022." 24 with 420,000 acres, which forms the site of his suborbital spaceflight company, Blue Origin. All rights reserved. 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. Please create an employee account to be able to mark statistics as favorites. This is just a small part of the 30 . The economy of China is driven by manufacturing and exporting. This drives China to accumulate U.S. dollars as foreign exchange (forex) reserves. The manufacturing of smartphones and other household items is heavily reliant on China, which controls most of the rare earth minerals that make those items work. Representative Grace Meng expressed concern that the amendment could fuel already rising anti-Asian hate, and the USDA and advocacy groups have pointed out that the USDA does not have the authority to intervene in private land deals. statistic alerts) please log in with your personal account. On a dollar-value basis, total manufacturing imports from Mexico to the U.S. increased 10% between 2017 and 2018, from $278 billion to . The measure is expected to reach the House floor before the end of July, as part of a broader appropriations package, although the Senate has not yet drafted its own version of the spending bill. The remaining 38 percent is held by entities from almost a hundred other countries. 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. A Chinese firm has also purchased Smithfield, the world's largest pork processor and hog producer. "The number is very difficult to gauge correctly due to complicated ownership structures that the Chinese sometimes employ. Photo: GUILLAUME SOUVANT/AFP via Getty Images, Critical Questions 2021 by the Center for Strategic and International Studies. Investopedia contributors come from a range of backgrounds, and over 24 years there have been thousands of expert writers and editors who have contributed. Does paying off all debt increase credit score? China's state-directed industrial policy has outmaneuvered America's laissez-faire approach to securing access around the world to a metal that's taking on growing economic and strategic . "Chinas Economic Rise: History, Trends, Challenges, and Implications for the United States.". 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. How Did the U.S. National Debt Get So Big? to incorporate the statistic into your presentation at any time. Learn more about how Statista can support your business. I'm a reporter for Forbes' explainers and trends team. The debt-to-GDP ratio measures the proportion of a country's national debt to its gross domestic product. But its the trend of increasing purchases and the buyers potential connections to the Chinese government that have lawmakers spooked. division (technology), Legendary Entertainment Group (entertainment), Motorola Mobility (technology), Nexteer Automotive (automotive), Riot Games (entertainment), Smithfield Foods (food), Teledyne Continental Motors and Mattituck Services (aerospace), Terex Corp. (machinery), Triple H Coal (mining), Zonare Medical Systems (health care). CLICK HERE FOR COMPLETE CORONAVIRUS COVERAGE, Times Square billboard endeavors to warn of creeping Chinese influence. Whether you're an American retiree or a Chinese bank, American debt is considered a sound investment. Greed Is Good or Is It? In a vicious cycle, they sell the U.S. dollars they receive through exports to get renminbi, which increases the supply of U.S. dollars and raises the demand for renminbi, to the point that the renminbi ranked as the eighth most traded currency in the world as of 2019. Currently, you are using a shared account. "In 2017, the United States produced zero rare earth minerals. Appliances (technology), IBMP.C. National Association of Realtors. CSIS does not take specific policy positions. 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. "How Much Money Does the World Owe China? All Rights Reserved. By clicking Accept All Cookies, you agree to the storing of cookies on your device to enhance site navigation, analyze site usage, and assist in our marketing efforts. For example, Chinese pharmaceutical companies supply 70 percent of the world's acetaminophen, commonly used in Tylenol. | Longley, Robert. They use different business structures to further conceal it.. For these reasons, we'll likely see China remain one of the world's largest holders of U.S. national debt. You need a Statista Account for unlimited access. How Much Money Does the U.S. If China ever did call in its debt, it slowly would begin selling off its Treasury holdings. This has been common practice for many countries ever since the Bretton Woods Conference in 1944. 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. When you visit the site, Dotdash Meredith and its partners may store or retrieve information on your browser, mostly in the form of cookies. The value will change whenever China trades Treasury securities or when the prices of those bonds change. That data also shows that the approximately 190,000 acres of farmland owned by Chinese interests has remained virtually unchanged since 2013. Nonagricultural land (such as homesteads and roads) accounted for 2%. World Gold Council. And key Senate lawmakers have already shown interest in efforts to keep American farms in American hands. As a major function of its monetary policy, China's central bank, the Peoples Bank of China (PBOC), actively works to prevent this imbalance between the U.S. dollar and renminbi in local markets. U.S. consumers benefit from low consumer prices. According to the Federal Reserve and U.S. Department of the Treasury, foreign countries held a total of 7.03 trillion U.S. dollars in U.S. Treasury securities as of March 2021. The data is based on a 1978 law directing foreign nationals to report their U.S. agricultural holdings to USDA a requirement that can be difficult for the department to enforce. The USDA claims that its goal is to monitor foreign ownership of land, not to exact penalties. The hardware brand is a publicly-traded company that does not have a majority shareholder. ", TreasuryDirect. As of 2019, a total of 191,000 acres of American land were owned by China. With an aging U.S. farmer population and not enough new farmers able to enter the industry, more land will inevitably be converted to other uses or sold to foreign and domestic investors unless policies are put in place to support the next generation of farmers. China produces 97 percent of U.S. antibiotics and about 80 percent of active pharmaceutical ingredients used in American drugs, giving the Chinese Communist Party absolute controlof potentially life-saving medicine. "The first priority is to reclaim our critical supply chains so that we can become self-secure instead of reliant on the Chinese government,"Will Coggin, managing director of the American Security Institute, told Fox News. 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. China holds more than $1 trillion of the U.S. national debt. While many politicians like to angrily proclaim that China owns the United States because it owns so much of the U.S. debt, economists say that claim is far more rhetoric than fact. However, the full extent of the Chinese investment as it stands in the U.S. today is far from transparent. This is the second reason the Chinese want Treasurys; they are essentially redeemable in dollars. "Under China's Communist Party dictatorship, private companies are forced to bend to the government's will," the report states. US PHARMACEUTICAL INDUSTRY AIMS TO WREST SOME DRUG PRODUCTION BACK FROM CHINA. Read our. Most of the rest of the U.S. debt is owned by individual investors, corporations and other public entitiesincluding foreign creditors like the Chinese government. The government now provides affordable housing by subsidizing commercial housing purchases or by offering low-rent public (social) housing to middle- and low-income families. A dollar-pegged yuan helps keep down the cost of Chinese exports, which the Chinese government believes makes it stronger in international markets. It buys available excess U.S. dollars from the exporters and gives them the required renminbi. Owning U.S. Treasury notes helps China's economy grow. How can I increase my credit score by 25 points? U.S. Debt to China: How Much Is It, and Why? | Photo by Nathan Howard/Getty Images. Many large corporations, pension funds, and wealthy individuals are investing in agricultural land in the United States and abroad. Chinas demand for Treasurys helps keep U.S. interest rates low. China's position as the largest foreign holder of U.S. debt gives it some political leverage. These are especially vital not only for high-technology products such as smartphones and electric vehicles but for U.S. frontline weapons including the F-35 fighter, which requires 920 pounds of rare earth minerals. Hilton Hotels Since 1919, Hilton has become a household name throughout the U.S. and other countries. China, which owns an estimated $972 billion in U.S. Treasuries, is the number-two investor among foreign governments, according to the August 2022 figures released by the U.S. Treasury. March 18, 2016, 2:10 PM. Coronavirus-related sales slumps and supply chain disruption, as well as rising production costs, have also hastened the exodus. ", Get all the stories you need-to-know from the most powerful name in news delivered first thing every morning to your inbox. The debate over farm ownership comes amid broader efforts by Congress and the Biden administration to curb the nations economic reliance on China, especially in key industries like food, semiconductors and minerals deemed crucial to the supply chain. This series of events prompted Congress to look at how to prevent Chinese ownership in U.S. agriculture, even though other foreign entities, like Brazilian-owned JBS, control similarly large portions of U.S. food supply chains. The government itself actually holds just under one-third, about $5 trillion, of the $19.8 trillion government debt in the form of trust funds dedicated to legislatively-mandated programs like Social Security, Medicare, and Medicaid and veterans benefits. This also reduces the purchasing power of Chinese earners. Haier bought GE for $5.4 billion, a recording breaking sum at that time. As a result, the public does not have a complete picture of which foreign entities own how much U.S. farmland or what the land is being used for. Stoves, refrigerators, washers and dryers from General Electric have been around for more than 100 years, but starting last year, the appliance division of the iconic company has been Chinese. 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. Countries Who Own The Most Acres U.S. China Daily, which is controlled by the Chinese Communist Party, has paid more than $4.6 million to The Washington Post and . Of China's own top 500, 74 percent (370) were state-owned and state stock-holding enterprises, with assets of 27, 370 billion yuan and realizing profit of 266.3 billion yuan, representing 96.96 percent and 84.09 percent respectively of the top 500 corresponding values. and Caitlin Welsh. While foreign land ownership has been reported in all 50 states and Puerto Rico, the holdings are concentrated in particular states. Each bill, bond, and note represents ownership in U.S. debt. Chinese firms have bought AMC Entertainment, Legendary Entertainment, and other media companies. Concern about Chinese purchases of U.S. agricultural land increased in late January when the China-based Fufeng Group Ltd. was prevented from building a cornmill on land close to a North Dakota Air Force base after officials called it a security risk. 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. If the Chinese suddenly decided to call in all of the federal government's obligations (which isn't possible, given the maturities of debt securities), others would likely step in to service the market. What Is the Public Debt, and When Is It Too High? Access to this and all other statistics on 80,000 topics from, Show sources information What is the highest credit limit for Chase Sapphire? That's a large portion of the $7.6 trillion in Treasury bills, notes, and bonds held by foreign countries. That sounds like a lot of moneybecause it isbut it is actually a little less than the $1.24 trillion China-owned in 2011. Instead, Dollar Tree is a self-owned company that itself has acquired numerous national and regional competitors over the years, including Family Dollar and Dollar Bill$. According to the NYFC, young and aspiring farmers say access to land is their largest barrier to starting a successful farm business. Bill Gates owns almost as much U.S. agricultural land as China at 248,000 acres, according to The Land Report. Foreign entities buy agricultural land for a variety of reasons, such as food production, wind farming, carbon offsets, or speculative investments. Overview and forecasts on trending topics, Industry and market insights and forecasts, Key figures and rankings about companies and products, Consumer and brand insights and preferences in various industries, Detailed information about political and social topics, All key figures about countries and regions, Market forecast and expert KPIs for 600+ segments in 150+ countries, Insights on consumer attitudes and behavior worldwide, Business information on 60m+ public and private companies, Detailed information for 35,000+ online stores and marketplaces. In simpler terms, the government wrote itself a really big IOU and bankrupted one account to finance another activity. Center for Strategic and International Studies The USDA could enforce the portion of the bill that bans Chinese-owned companies from participating in federal benefits programs, but constitutionally, land purchasing falls under states rights, and legislators have made no motions to change that. If you are an admin, please authenticate by logging in again. "Debt to the Penny. The resulting loss of export business would lead to a major unemployment crisis in China. This compensation may impact how and where listings appear. Robert Longley is a U.S. government and history expert with over 30 years of experience in municipal government and urban planning. National Association of Realtors. But you'll still see the malls and streets of the big cities filled with Christmas decorations, fir trees, Santa Claus and carols. Countries with lower currency values export more, since their products cost less when sold in foreign countries. Q4: What federal solutions are being discussed? While Japans 4.8% ownership of the U.S. debt is only slightly less than Chinas 5.3%, the Japanese-owned debt is rarely depicted in a negative light, as is Chinas. On Friday, Starwood Hotels agreed to be acquired by Anbang, a Chinese insurance company that is rapidly buying up U.S. hotels, for over $13 billion . Chinese agricultural land ownership only increased about 550 acres from 2015 to 2019. Definition and Impact. China has the second-greatest amount of U.S. debt held by a foreign country. ", The World Bank. 5. 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. 1 Canada (12.8 million acres) and even and the Cayman Islands (672,000). While the Chinese, Japanese and plenty of other foreigners own substantial amounts, it's really Americans who hold most of America's debt. You need at least a Starter Account to use this feature. China is also responding to accusations of manipulation. For its part, China owned 191,000 acres worth $1.9 billion as of 2019. What US companies are now owned by China? That data also shows that the approximately 190,000 acres of farmland owned by Chinese interests has remained virtually unchanged since 2013. United States Treasury Fiscal Data. "GDP Growth (Annual %) - China. More recently, U.S. authorities have discovered China is funding American university researchers, who don't always disclose those contributions. "Major Foreign Holders of Treasury Securities. Then ownership jumped 30% from 2019 to 2020, from some 247,000 acres to roughly 352,000. Legal Statement. Agricultural Land: Facts, Figures, and an Assessment of Real Threats, Brzezinski Chair in Global Security and Geostrategy, Diversity and Leadership in International Affairs Project, Energy Security and Climate Change Program, Media Relations Manager, External Relations. Mexico has gone from 38% to 42%. That's a decline of. China and investors tied to the CCP own just shy of 200,000 acres of various types of land in the United States. But some analysts believe the ongoing crisis lays bare the inroads China has made on U.S. soil. This material may not be published, broadcast, rewritten, or redistributed. Walmart owns no shares. Japan held 1.24 trillion U.S. dollars. ", Harvard Business Review. Michael Boyle is an experienced financial professional with more than 10 years working with financial planning, derivatives, equities, fixed income, project management, and analytics. Other foreign holders included oil-exporting countries and Caribbean banking centers. 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.