Foreign purchase are part of the problem, but most Mom’s Battery 4 Kids Funny Shirt and real estate speculators are Americans, and they are equally part of the problem. However I agree, Chinese policy makes sense and should be applied in the US: disallow private real estate from owning land. All residential land is leased from the government. This arrangement prevents hoarding, speculation, and real estate empires. The result is 10% of Chinese households renting vs a bit over 30% in the US. So Chinese investment in US property represented 12 per cent of foreign investment in US property in 2020. Same as Canada and 3 per cent more than Mexico. Do you also want to ban Canadian and Mexican investment in US property, or is this actually about something else? Congress has the Constitutional power to regulate commerce between the USA and foreign nations. They passed a law, the International Emergency Economic Powers Act, delegating a part of that power to the President, which he is using in this case. The government can do pretty much whatever they want if the bill passes. Foreign companies get hit with that make their products basically banned. Domestic is a little more complicated but by all means possible.
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Except this time China is clearly winning, and the US can’t use the Mom’s Battery 4 Kids Funny Shirt tactics as the Russians because there’s a racial dynamic that’ll cause backlash at home when they try to dehumanize and propagandize about the ‘enemy’. I’m more afraid of the domestic reaction to losing a cold war while internally declining due to those contradictions reaching critical mass than I am about the spooky scary Chinese trying to take over the world, or some bullshit that xenophobic like to about despite the total lack of evidence. That’s a recipe for Fascism and we’re primed and ready for it. Americans should stop judging and worrying about China so fucking much when our horizons look so grim and our system is blatantly inadequate at navigating that. Not with Facebook because it’s a US based company. China yes, provided certain, and State Department procedures are followed particular technologies are classified for potential military use. I worked as a software licensing specialist and there are many situations where US based companies could not use certain technologies inside China, Iran, N. Korea and many other countries and there was no way they could legally obtain the software or technology, but that’s a whole different story.
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