(11-24-2009) What will the congressional candidates have to say about this?
China State Construction nets $100m US subway deal (NY)
By Liu Yiyu (China Daily)
The company has signed more than $2 billion worth of contracts in the US this year. [China Daily]
China State Construction Engineering Corp, the largest contractor in China, has bagged a subway ventilation project worth about $100 million in New York’s Manhattan area, marking the construction giant’s third order in the United States’ infrastructure space this year.
The contract was given to China Construction American Co, a subsidiary, the Wall Street Journal quoted a source as saying.
“The new project, along with the $410-million Hamilton Bridge project and a $1.7-billion entertainment project it won earlier this year, signals China State Construction’s ambition to tap the American construction market,” said Li Zhirui, an industry analyst at First Capital Securities.
Li, however, said the order came as no surprise as the US government is spending massively on infrastructure projects.
The three orders only account for about 4 percent of the value of its total orders this year, Li added.
In the first three quarters of this year, the Chinese construction giant signed more than $2 billion worth of contracts in the US market. China State Construction was also the contractor for a high school, a railway station and the Chinese embassy in the US.
Despite the progress made in the US market, the Middle East, Asia and Africa remain the State builder’s key markets. The value of its contracts in Algeria this year increased 32 percent year-on-year, exceeding $800 million, and the value of its contracts in the Middle East surged 62 percent year on year, also exceeding $800 million.
The domestic market is still the largest contributor to China State Construction’s revenue, mainly due to strong property sales and infrastructure sector projects.
China State Construction said it reaped 41 billion yuan in revenue from the property sector in the first 10 months of this year, up 83.2 percent over the same period last year. Orders from the infrastructure construction business were boosted by 90 percent largely due to the fiscal stimulus allocated to China’s infrastructure sector.
Citing the company’s recent performance, Shenyin & Wanguo Securities has given China State Construction a “buy” rating for the first time.
According to statistics provided by the Ministry of Commerce, China’s overseas project contracts have increased 22.7 percent to $100.15 billion in the first 10 months of this year.
Communist China has been and continues to expand it’s footprint on our soil with the blessings of our “Trusted Public Servants” for years. Try to rationalize and justify how this is a good thing for the American worker in both short and long term.
Will our gov. now start to hang “officials”, exec’s, and middle managers when these projects fail, as they do now in Communist China? – oh yeah, they don’t hang the “officials”, just the people lower on their food chain.
In two or three more generations, We just might be carrying yuan’s in our pockets instead of greenbacks.
Where are our “trusted Public Servants” on this? Follow the money – and get the corruption out.
-both established parties continue to fail the American People.
GOD Bless America
I guess Chinese will become our second language, and we all thought it would be Spanish.
Google this company and read how they are proud of “possessing” thousands of “workers” Read the entire site – open your eyes.
Eisenhower should have let MacArthur finish his job when he stood on the North Korean Peninsula overlooking communist china.
Follow the money, root out the corruption – and all enemies foreign and domestic.
It is all too clear what this administration and previous administrations are setting our great nation up for. Under the guise of fair trade relations and cooperation with the world community. We are witnessing the dismantling of the United States Constitution and our sovereign nation. NAFTA,CAFTA,OCEANS 21,etc…
The one thing they are forgetting is the American Citizenry when pushed too far will fight back. We will see in our lifetime the second American revolution. The TEA Parties and other like-minded groups are growing and are not going away. So let this Administration sew the final seeds of what will surely be the end of the prgressive movement in America.
When I first read about this, I was outraged, but not at all surprised. It’s not that I oppose trade, but, I’m sorry, there IS a difference between the United States and the rest of the world and we should’t be afraid to make that distinction, talk about it openly, and never apologize for it. Blurring the USA with other countries is kind of a theme for our Government. After all, the big winners from “cash for clunkers” (that ridiculous anti-environmental giveaway) were foreign auto makers. And it’s the same mindset that affords a US citizen’s rights to terrorists being tried in Federal Court! One either gets this idea or not. Our current Government doesn’t get it. In fact, they are poised to yield more of our sovereignty in upcoming “Climate Change” treaties. When Obama won the Nobel Prize, I pointed out that another superpower leader also won some years ago, Gorbachev, just before he gave away the Soviet Union! Whomever we elect to represent us better get this message or the same can happen to us. This is Thanksgiving. We thank God for the blessings of liberty and prosperity that we have been given. If we take them for granted, they can disappear overnight. God forbid.
Does anyone else find it funny that these contractors hail from the same country that has become our primary banker?
I don’t plan on learning how to speak Chinese just yet. I remember the 1980s when everyone freaked out about the Japanese coming in and buying up real estate and baseball teams in the US. Everything turned out fine then and I have faith that between God and the American people, we will turn everything around again.
Don’t Give Up the Ship!
In many nations around the world, it is illegal for non-citizens to own property. Japan was never a communist country. We beat the snot out of them after they attacked us as part the axis powers – and We re-built them. Japan and other countries buying American property and buisness has and continues to allow the paradim shift towards globalization and to the left. Now We have communist china building our infrastructure and supplying our consumer requirements in all aspects. I guess that means out of a population of three hundred million, there is not one company qualified to do this task ( I find that incomprehensible in America).
The slide to the left is exponentally compounding at ever increasing speed. This is not a good prognostic indicator for the short and long term future of a free and democratic republic.