Indiana Senate amends SB 388 to protect Chinese investments to own hoosier land
China is not buying land in Indiana. People from China, Chinese individuals, are buying land in Indiana, and in many other states, and have been for decades. It is not a new phenomenon. People freaked out when a Japanese group bought Rockefeller Center decades ago. What happened? Nothing.
When foreigners buy assets in the US, they give people in the US money, and then the foreigner holds the US asset. So, Americans get money, and the foreigner gets the asset. This makes the American better off (otherwise they would not sell...)
If there were a war, the foreigner would lose access to their asset. They would be made worse off. Foreign ownership of assets in the US makes those foreigners advocates against war with the US.Foreigners often purchase assets in the US, or that are denominated in US dollars, because they seek a safe place to invest. These investments often indicate that it is safer to invest in the US than in their home country.
This is on net a good thing for Americans. When foreigners invest in US assets they pour financial capital into the US. Capital augments labor and makes Americans more productive and raises the wages of workers in the US.
There is nothing to be afraid of.
The real problem was that anyone should try to limit the purchase of assets in the US and in Indiana in particular at all.
That the IN legislature is adding amendments to this bill for loopholes is also a problem.
Just kill the whole thing, and let the money flow into IN.