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Registered: 01-2012
Posts: 3302
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China is quietly buying up America.

China is quietly buying up America. China’s Anbang Insurance Group significantly involved.

Earlier this year, the Chinese Insurance Group paid $6.5 billion for the well known Hotel del Coronado near San Diego, the Fairmont Scottsdale in Arizona, and several other hotels, including a Westin, Ritz Carlton and Four Seasons.

Two weeks ago, the Chinese Insurance Group bought Starwood Hotels (Sheraton and Westins) for $13 billion. The sale being represented as the largest hotel deal ever.

Last year, the Chinese Insurance Group bought New York’s Waldorf Astoria for $[sign in to see URL] billion.

One reason the Group is buying up lucrative U.S. hotels is China’s aging population. The insurance company has policy liabilities to many of the aged.

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Key West Lou retired to Key West after 46 years as a New York lawyer. This info is from his daily blog. He also does a column for a weekly newspaper & a weekly hour on blogtalkradio called Tuesday Talk With Key West Lou.

3/24/2016, 3:52 pm Link to this post Email CT Bookworm   PM CT Bookworm Blog

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