Desert showdown blows lid off long-standing plans with Chinese ... On Jan. 20, 2013, WND warned Chinese government-backed economists were proposing a plan to allow Chinese corporations to set up “development zones” in the United States as part of a plan proposed by the Chinese government to convert into equity the more than $1 trillion in U.S. Treasury debt owned by the Chinese government. ... By allowing China to have equity interests in U.S. oil and natural gas production, the Obama administration reversed a policy of the Bush administration that in 2005 blocked China on grounds of national security concerns...