Posted on 10/08/2014 4:52:24 PM PDT by TigerLikesRooster
Last updated: October 7, 2014 8:10 pm
China swoops in on Italy’s power grids and luxury brands
By Rachel Sanderson in Milan
EU debt crisis opened up periphery countries to Chinese investors
Italy’s business elite – senior executives from blue-chip companies such as Telecom Italia and Vodafone plus high-ranking government officials – filled a renaissance palazzo across from Milan’s gothic cathedral this summer to court one of the country’s biggest foreign investors.
Huawei, the Chinese telecoms equipment maker, opened its only microwave research and development centre outside China in Milan in 2008. The company, whose name means “splendid achievement” in Chinese, had brought people together to announce plans to double the size of its R&D staff in Europe to 1,700 by 2017.
(Excerpt) Read more at ft.com ...
P!
Ironic. Free Western societies decide to adopt socialism over capitalism, decline economically, and are then have their industries bought out by a socialist/communist nation that has become rich practicing capitalism.
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