Chinese companies invest big in Texas and Houston
News Article Sponsored by Flex-Chem
Chinese companies have invested $7.4 billion in Texas over the last 15 years, much of it in Houston, according to the consulting firm Rhodium Group.
The new data is reminder of the importance of global trade to Houston’s economy.
One aluminum plant doesn’t make up for dumping surplus steel into the U.S. market, but Rhodium’s report concludes that additional Chinese investments – and new American jobs – are possible in other industries if trade strengthens.
“While Chinese FDI (foreign direct investment) is well represented in the state’s storied energy sector, major areas of the Texan economy are largely untapped by Chinese investors,” the report says. “With few exceptions, there has been little investment in technology or aerospace, both of which are major attractions for foreign companies.”
Many of the current crop of presidential candidates like to rail against foreign trade deals that makes these kinds of cross-border investments possible. But putting up more barriers to investment will only hurt international cities like Houston that benefit from them.
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