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Is Detroit destined to become a Chinese city? Chinese homebuyers and Chinese businesses are starting to flood into the Motor City, and the governor of Michigan is greatly encouraging this. In fact, he has formally asked the Obama administration for 50,000 special federal immigration visas to encourage even more immigration from China and elsewhere. So will Detroit be the first major city in the United States to be dominated by China? It could happen. Once upon a time, Detroit was the greatest manufacturing city in the history of the world and it had the highest per capita income in the entire country. But now it is a rotting, decaying, bankrupt hellhole that is in desperate need of a savior, and Michigan Governor Rick Snyder appears to be fully convinced that China can be that savior.
To Snyder, encouraging foreigners to invest money and buy up properties won't cost the state government much, but it could potentially have great benefits...
Under a plan to be unveiled Thursday, Gov. Rick Snyder will request 50,000 special federal immigration visas over the next five years to attract foreign professionals who are willing to work and live in the city.
Mr. Snyder, in an interview Wednesday, said that “this is one way for the federal government to step up to provide significant value without cost that could have a huge impact on the city’s future.”
At a news conference announcing his plan, Snyder was not shy about declaring his intentions...
"Let's send a message to the entire world: Detroit, Michigan, is open to the world."
In other words, Snyder wants China to save Detroit since nobody in this country is going to.
Snyder has also taken a couple of additional steps to encourage immigration and foreign investment, including opening up something called "an Office for New Americans"...
Opening an Office for New Americans to attract and help immigrants better adjust to life in Michigan, and designating the state as an Employer Based or EB-5 center to expedite visas and permits for immigrants who want to open business in the state with investments of at least $500,000 and 10 employees.
In essence, Snyder has done just about everything except roll out the welcome mat for the Chinese.
But this is nothing new for Governor Snyder. In fact, he has been making overtures to China for years...
Snyder, who was a businessman before starting his political career, believes that automobiles can no longer change the fate of Detroit. He said that he has learned from the history of the United States that what has made the nation great is immigrants.
In the early 1990s, Snyder went to China to develop the automobile market. After he was elected as the governor of Michigan, he made at least one trip to China every year, with the aim of recruiting talent.
He hopes that well-educated Chinese people can revitalize the Motor City in the new era. And as he desired, after Detroit announced its bankruptcy in 2013, the Chinese began to take the dying city by storm.
Rich Chinese men see Detroit as a rare opportunity for investment outside their home country.
In 2013, without any field investigation, Dongdu International Group of Shanghai — whose assets total 5 billion yuan (US$800 million) — spent US$13.6 million to buy the David Stott building and the Detroit Free Press building at auctions in September.
Read the full story: www.theeconomiccollapseblog.com
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