New York’s Waldorf Astoria is now controlled by the Chinese government

The Chinese government has taken control of Anbang Insurance Group, a Beijing-based conglomerate that has aggressively acquired overseas companies and properties including the Waldorf Astoria in New York City.

Nwo Report

by Josh Horwitz

One of the symbols of New York luxury is now in the hands of Beijing.

The Chinese government has taken control of Anbang Insurance Group, a Beijing-based conglomerate that has aggressively acquired overseas companies and properties including the Waldorf Astoria in New York City. The move highlights the complexities the US faces as more and more Chinese companies—often with opaque ownership structures—attempt to purchase stateside companies. An ostensibly private holding can, seemingly overnight, change status.

In a statement (link in Chinese) Friday (Feb. 23), the China Insurance Regulatory Commission (CIRC) said it was acting to protect insurance product consumers because Anbang was in danger of insolvency. A government work group will control Anbang for one year, until Feb. 22, 2019. It’s not clear what will happen to the company’s ownership afterwards, though one possibility is a government-orchestrated sale of a stake in the company. The company’s…

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4 thoughts on “New York’s Waldorf Astoria is now controlled by the Chinese government

  1. Well, the Chinese can have it because the last I heard, the Waldorf Astoria had bedbugs. Hell if I would pay a fortune to shack up with bedbugs.

    But it is a sad ass fact that investors from China and other countries are buying up entire neighborhoods in many cities in America and I have also read that the Chinese have been allowed to basically ‘drain’ the Great Lakes. I don’t like where this is headed, but there is nothing that I can do about it.

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  2. Shelby, I guess this buy-up of US assets by foreign interests is yet another symptom of America’s growing third world status. Wall Street bankers and property developers can no longer find American buyers for their assets (basically ’cause they already sucked all the money out of the economy to buy yachts with), so they’re selling off what remains of the family jewels while they still can. We have the same problem here in NZ with Chinese investors (with government financial backing) buying up residential property and major chunks of farmland.

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