The push to drain China’s influence from the U.S. economy has reached America’s farm country, as congressional lawmakers from both parties are looking at measures to crack down on foreign purchases of prime agricultural real estate.
Credit: Nathan Howard/Getty
House lawmakers recently advanced legislation to that effect, warning that China’s presence in the American food system poses a national security risk. And key Senate lawmakers have already shown interest in efforts to keep American farms in American hands.
The debate over farm ownership comes amid broader efforts by Congress and the Biden administration to curb the nation’s economic reliance on China, especially in key industries like food, semiconductors and minerals deemed crucial to the supply chain. The call for tighter limits on who owns America’s farms has come from a wide range of political leaders, from former Vice President Mike Pence to Sen. Elizabeth Warren (D-Mass.), after gaining momentum seeded in farm states.
“America cannot allow China to control our food supply,” Pence said […]
The United States is giving up its rights by creating a huge national debt, with China as its main creditor.
Thank you, Mr. Biden, for continuing to escalate this national debt!
Your man #45 didn’t help much with that huge tax cut for big business and the uber-wealthy. Just watched Bezos take off on his joy ride past the Karman line now officially an astronaut. Tax the damn rich so they have no funds to waste on space ships, multiple homes, boats and big airplanes. Then talk about the national debt… “I rob banks because that’s where the money is, so Willie Sutton may have said.
Canada still remains the #1 owner of US property. And the Canadian company Enbridge is pumping oil in the US. A few years ago, there were some large metropolitan property buys by Middle Eastern entities. At that time, mainly in Chicago. Nations that will no longer be livable due to Climate shifting money. Then the Netherlands that’s suffering from Climate has a huge pension fund that’s bought land in the US. NO secret that Trump and the GOP Congress was behind the huge tax cuts on the rich and so far, Congress has left those cuts in place. Biden has no legal grounds or recourse to restore those taxes. I find it hard to believe China with it poor economy is buying farms. My guess is it’s the very rich Chinese individuals who are buying farms. San Francisco saw a huge influx of cash buys when Hong Kong fell. I witnessed one prospective buyer walk into a condo, opening a suitcase full of dollars. One has to wonder how this will unfold, since Climate has caused terrible setbacks in the big AG areas like the Midwest where farmers have really suffered. Delayed planting, acres of land drowning under big storms..