China’s global investment strategy and industrial ambitions
The Wright USA acquisition is part of a broader pattern of Chinese investment in developed economies. AidData, a research lab at William & Mary, has documented that since 2000, Chinese state-backed entities have invested approximately US$2.1 trillion overseas, with a significant share directed at developed countries. Brad Parks, AidData’s executive director, said: “For many years, we assumed that virtually all of China’s money flows were going to developing countries. And so, it came as a great surprise to us when we realised that actually there were hundreds of billions of dollars going into places like the US, the UK, and Germany, happening right underneath our noses.”