“There was a similar panic about Japan buying up all of New York a few decades back. It didn’t pan out. It’s still there.
Some Japanese did buy The Pebble Beach Golf Club back then, causing panic in some circles. They paid $8 billion, sold it for $4 billion a few years later.
—”sold it for $4 billion a few years later.”
Did they actually collect $4B?
The WSJ called it the worst land deal since Manhattan Island sold for $24 worth of trinkets.