The New York Waldorf Astoria sale- a Chinese spy story in the making?

[LawrenceChee]

It's probably true when you look at every technological product out there

There is always an element of copying

They have bought it wholesale whether it's rail technology, phone equipment technology etc etc

So no blowing of horns at all ...they bought the technology, copied it to their market needs , made it cheaper and more competitive and thereby claim market share

Some will place more emphasis on technology development and kudos to them and some will be better at adapting it for mass use like the Chinese companies and kudos to them too for making it happen ...if not that piece of portable wifi modem will probably still be above $300 instead of $40 in best buy stores

[keemapoot]

^Lawrence, I have first hand experience with this, and you say they "bought the technology." Yes, in many cases I've observed, they "bought a few trial units" quickly disassembled and reverse engineered the units, and then sold it or developed it out the back door, while trying to either steal or recreate the source code. I've seen it over and over at some of the largest and most respected Chinese companies. I've done business in China for many years.

Don't get me wrong. Everyone knows the game out there and has known it for a long time. The Chinese market is big enough that you do realize in order to win big orders you will have to live with Intellectual property theft, and for many companies it becomes a cost of doing business. And you are right, that in the end, Chinese copies have the net effect of bringing down prices and making technology accessible for the masses, so that is not a bad thing.

In the end analysis, it is what it is, and everyone knows the game. Chinese industrial espionage and theft is pervasive and massive.

[LawrenceChee]

I agree with you keemapoot. There is massive copying of technology and theft of knowledge which is very common.

There is no denying of this as I have seen it myself.

When the Chinese opened up for capitalism and agreed it was a better model than the agricultural model of communism, their pragmatic side asked themselves how they will avail to technology beyond them to play catch up as they have a huge population

They went hybrid with this mgt model while trying to stay true to some elements of being communist.

Essentially copying or theft to make things affordable fulfilled the communist model of taking care of its citizen and they could live with opening up the market

In the hospitality business which is my trade, I have seen how inexperienced hotel owners went to Marriott & Hilton HQ and learnt like a thirsty student ...they brought the brands here into China and turned it into their own ...incredible buildings

I have no doubt at all that in a few years the hotel would be outstanding after a massive refurb project.

Edited October 19, 2014 by LawrenceChee

[keemapoot]

^I understand why you edited your comment. It's best not to disclose too much about yourself. I am impressed though.

[simon43]

the hookers in the lobby were a pest and complaints to staff made no difference.

Was this a complaint that you expected a better class of hooker at the Waldorf-Astoria?

[Publicus]

There a lot of serious bafoon terms being thrown out here and the reality is the departments described are mostly lame duck officials who know there are not many buyers out there with the money to renovate it the way it is needed and of course politically they need to be seen as protecting the assets

The Chinese are not dumb or desperate ...if there is any resistance, they walk off the table and wait another year for the price to dip again as the condition review gets worse...lots more iconic buildings on sale unfortunately and that is the reality

Hello?

I said the U.S. Government examination of the Waldorf Astoria sale is being done at the cabinet level, as mandated by law.

The Department of the Treasury Office of Foreign Assets Control investigates to give its finding to the OFAC Board which is chaired by the Secretary of the Treasury and consists of the secretaries of State, Defense, Homeland Security, Directorate of Intelligence, Commerce, the Attorney General and a couple of others.

The statement these are lame duck officials is absurd and ridiculous.

Hilton Worldwide Hotels and Resorts Inc, tentative former owner of the Waldorf, has 27 destinations in places such as Amsterdam,Shanghai, Beijing, Dubai.....the list gets very long. Hilton Worldwide is soon to open in Bangkok, Bali, Beverly Hills. Hilton could have reconstruct the Waldorf from roof to basement had they wanted to do that, but they easily decided they weren't interested.

Instead Hilton is moving on and the minor PRChina insurance company Anbang is moving in after buying the property at above market prices which the PRChinese are doing in New York City. New Yorkers have seen the PRChinese coming with bags of money the way big hat Texans used to swagger in.

PRChinese are buying NYC properties that are either run down or in need of repair that owners were happy to move to eager beaver buyers that got rich paying industrial workers RMB 600 a month for mass producing plastic toys.

Edited October 19, 2014 by Publicus

[LawrenceChee]

I have come to the conclusion there are some fantastic keyboard warriors here who know nothing about business and like to pretend to be important with gloated terms and all kinds of quotes like they actually work for those departments.

Peace out ...time to leave that crowd behind ...in business it boring to talk and negotiate with talkers.

They talk all day and do no work and make no decisions.

If I was rude, I would have called them cowards. Thankfully i choose to ignore.

[Publicus]

I'm posting to the topic in what is a one sided rout.

The score must be 12-2 or some such with the other guy already down for the count and mumbling he coulda been a contenda..

I'd have to allow however that my native language is English (although there are those at TVF that would probably say that too is not so.)

[Scott]

I vaguely remember a long time ago that the Japanese bought up huge amounts of property. Then I remember there was a period of time when the Arabs were buying up a lot of land -- they even bought up a fair amount of farmland and seemed to think they could have crops grown and they could just take them (they had some of the same designs on rice).

[LawrenceChee]

I vaguely remember a long time ago that the Japanese bought up huge amounts of property. Then I remember there was a period of time when the Arabs were buying up a lot of land -- they even bought up a fair amount of farmland and seemed to think they could have crops grown and they could just take them (they had some of the same designs on rice).

Jeju is the next hot spot and already there is tougher regulations to try to limit the purchases ...the Chinese have bought up 400,000 of land and I believe it's time for a slowdown and will recommend that in the next round of talks

Too much excessive buying is not good. It takes the fun of astute investments if everyone is there

[Publicus]

Arab moneybag investors to the U.S. got a lot of publicity such as sheiks during the 1970s and 1980s flying for a weekend to the highly fashionable Studio 54 nightclub in Manhattan (since defunct due to tax evasion) but Arabian countries truly suffered because of the series of energy crises they initiated during that period. Sharia restrictions on this that and the other thing also was self limiting, especially due to the rising feminism since the 1970s.The result is not much real investment by Arabian elites in the U.S.

The Sept 11 attacks didn't help broadly speaking, not just affecting Saudi Arabia. Dubai made the spectacular purchase of the Essex House Hotel on Central Park East in Manhattan but post 9/11 sold it. Arab investment all but evaporated after the public howl over the U.S. Government's approval of Dubai to purchase a British subsidiary in the U.S. to operate major ports along the east coast. The approval resulted in Congress reorganizing the Treasury's review function of such purchases to what exists today, the Treasury's tight fisted Office of Foreign Assets Control Board consisting of senior cabinet secretaries that is currently auditing the PRChinese purchase of the Waldorf.

Japan was stopped in its tracks of buying the United States by the Plaza (Hotel) Accords negotiated across from Central Park in 1985 by the U.S., France, UK, West Germany, Japan, which implemented an organized and well understood (except by Japan) depreciation the U.S. dollar resulting in the Japanese Yen becoming greatly over valued in just two years, creating its property bubble from which it still hasn't recovered. The U.S. re-appreciated the dollar three years after the Accord. So the CCP Boyz need to stay way from the Plaza and stick close to the Waldorf if they ever actually get it.

While Arab investors have $6 billion invested in the U.S., Japanese investors have $177 billion. UK investors have $252 billion, Dutch investors hold $167 billion and German investors have $163 billion. Interesting is that the Treasury's FACB of the most prestigeous cabinet secretaries have approved investments from these countries in critical areas, such as Nokia and Ericsson in communications, British Petroleum and Royal Dutch Shell in energy, and Germany in gas and electric power as well as Siemens running the U.S. Postal Service.

As to the CCP Boyz in Beijing,,,,

The reliance on personal relationships in business transactions, the involvement of the government in top

management, and the emphasis on price rather than product differentiation determine that Chinese MNCs will

face a steep learning curve in Western markets. Nonetheless, the early signs of success in Lenovo‟s acquisition of

IBM‟s PC unit indicate that careful management can compensate for these disadvantages (Newman, 2007).

In the face of the distrust of former IBM employees of the new owner from China, Lenovo has appointed Westerners to

key management positions. Meanwhile, the merged company has recruited talented ethnic Chinese expatriates to

work in a home-grown company.

Whether Chinese companies can become the next generation of MNCs depends on how they can evolve from strictly Chinese companies to global corporations that can successfully integrate their own management philosophy with western corporate practices.

Unlike their Japanese counterparts, Chinese companies have continued to rely on economies of scale to gain their

competitive advantage in the world market. At the same time, however, they also need to improve their product

quality and innovation if they are to be globally competitive.

https://www.pedersenandpartners.com/articles/challenge-globalization-chinese-mncs

Edited October 19, 2014 by Publicus

[lovetotravel]

This month we will in Italy as there is now a dedicated government website for businesses that want to sell out to the Chinese

At the Dumno later this month and hoping to advise the clients to do the same ...inject needed cash and leave it the way it is ....Italian culture style and most clients understand this

Just like Haier ...own it but don't covert it ...

Huawei chairman made a good statement in response to USA banning them ..."we operate already in 150 countries and when USA is ready, we will be there to offer our services and for the time not being in the USA is not important to the company hitting 40 billion in annual sales as the world largest communication company"

We were in Italy not long ago. The Chinese have taken over many of the restaurants in the various tourist areas. The food was horrible and over priced. We'd hoped for an authentic dining experience, only to have ketchup used as sauce.

[Credo]

Don't be so sure that was really ketchup they were using.

[lovetotravel]

I agree at the moment the USA remains one of the Chinese top investment venues as there is a good amount of bankruptcy and good deals to be snapped up ; pretty similar to Italy and Greece

Later if there is ever a recovery we will sell it back ...you can have them back when they raise enough money or use dishwashers as barter trade

NYC is hardly a market with bankrupt properties. It has been been doing very well lately, along with many other markets across the country. This investment trend sounds like the Japanese not that many years ago. Rumors were flying around they were going to "own" America. We all know how that turned out. Worked out great for many investors.

[lovetotravel]

Don't be so sure that was really ketchup they were using.

It was quite sad sitting in Venice and Rome, ordering a meal, and having Chinese waiters come out to serve you. Totally ruined the ambiance. Not to mention the food was horrible and over priced.

[boomerangutang]

Reciprocation: When is Halliburton going to buy the Great Wall?

[Publicus]

Reciprocation: When is Halliburton going to buy the Great Wall?

Uncanny to ask because when the CCP Boys in Beijing saw the new problem they called in Halliburton, but not about the crumbled wall which looks great where its been wholly reconstructed for tourists to Beijing.

Shale production in the PRChina, originally projected at 100 billion cubic meters annually, turned out to be a paltry 30 b, due to technological deficiencies, so the hard pressed for energy Boyz called in Halliburton.

Almost all of the PRC's shale must be drilled straight up, which is the way I like my Scotch served, so the Boyz called the corporation that's global number one at the hazardous and complex straight up shale drilling, Halliburton.

The earthquake prone Sichuan area has the highest shale deposits and numerous experts say the 9.0 quake there in 2008 was caused by inadequate rush rush the job CCP technology used by engineers educated in 1980s early shale drilling techniques and technologies. Halliburton had been in the PRC for 25 years but has expanded rapidly the past five years.

So good luck to the Boyz in their still open Waldorf venture.

[LawrenceChee]

Don't be so sure that was really ketchup they were using.

It was quite sad sitting in Venice and Rome, ordering a meal, and having Chinese waiters come out to serve you. Totally ruined the ambiance. Not to mention the food was horrible and over priced.

I agree with you and hence the urgent call to the investors there to leave the place as it is once you buy in ...kinda of like what Haier did when they bought over the brands

Let the experience flow by itself ...Italy is a lovely city and my attachments to the churches there means I am a stout defender of leaving historical buildings as it is

No developments there needed except for more public toilets

[LawrenceChee]

I agree at the moment the USA remains one of the Chinese top investment venues as there is a good amount of bankruptcy and good deals to be snapped up ; pretty similar to Italy and Greece

Later if there is ever a recovery we will sell it back ...you can have them back when they raise enough money or use dishwashers as barter trade

NYC is hardly a market with bankrupt properties. It has been been doing very well lately, along with many other markets across the country. This investment trend sounds like the Japanese not that many years ago. Rumors were flying around they were going to "own" America. We all know how that turned out. Worked out great for many investors.

The Chinese is not interested to own America ...it used to be in the heydays when every big investment is focused on USA from all interested investors...these days it would be strategic buying that qualifies the market there ..there are still some great gems there

My recent travel patterns for the last month from Vancouver, Australia, NZ , Hawaii, French Polynesia Islands were to indicate ...the Chinese is pretty much diversified in where they want to plunk their $$$$ and the American imagery is still there on the radar but it's not the North Star anymore for them.

[squarethecircle]

"the Chinese is pretty much diversified in where they want to plunk their $$$$"

Vast majority of "the Chinese" do not have access to basics like clean water, clean air, clean food. What you mean is, "corrupt businessmen and politicians want to get their dirty money and their families in places they haven't polluted", all the while hypocritically manipulating anti-foreign sentiment in the populace to maintain power. Just like Russian mobsters in places like UK and NYC, or Putin's daughter in Holland.

Edited October 20, 2014 by squarethecircle

[Publicus]

Don't be so sure that was really ketchup they were using.

It was quite sad sitting in Venice and Rome, ordering a meal, and having Chinese waiters come out to serve you. Totally ruined the ambiance. Not to mention the food was horrible and over priced.

I agree with you and hence the urgent call to the investors there to leave the place as it is once you buy in ...kinda of like what Haier did when they bought over the brands

Let the experience flow by itself ...Italy is a lovely city and my attachments to the churches there means I am a stout defender of leaving historical buildings as it is

No developments there needed except for more public toilets

More about restaurants in a moment because I'm curious what the minor PRChina insurance company would do with the Waldorf Salad and other fine foods at the fine Waldorf restaurants but only if Washington approves the purchase.

Haier which is mentioned in the post got listed as 27th among the global top 50 most innovative companies which is a good development for them, but much of the innovation has been to figure out how to market itself and buy other companies.

God knows its appliances aren't taking the global markets by storm...well, maybe storm might be the right word as Consumer Affairs fills up with customer complaints about product quality and Haier's miserable service, for example....

We bought this appliance set 04/12. A few months later, we had our first problem with the machine; it tore our clothes, pulled out threads, and did damage for more than $400. We had parts replaced more than 3 times. After many calls, I spoke with the manager and asked for a full refund. He told me that he would send out the information for the refund. I never received a phone call, email, or letter. No one contacted me for more than a month. After a phone call today (I called), 05/21/2013, I was told they didn't contact me because they had it in a file - that I didn't want that insurance (I had paid for an extra 5 year warranty!). The truth is that I told them I don't want the machine! That was their excuse for not contacting me for over a month?! The truth is that I told them I don't want the machine set! I wanted the full refund.

Today is May 21, 2013. The machine is still useless, and I still don't have a working machine, or the full refund, and no refund for my torn clothes. The only thing I heard from them is, "Sorry that happened." Sorry does not pay for my damaged laundry or public laundromats that I am forced to use now. I complained many times, and I called but nothing was solved. The only thing that they offered was a new same type of machine that I don't want! Is there any help out there on how to solve this problem? I'm very afraid to agree with them on a new part or replacement of the machine.

http://www.consumeraffairs.com/homeowners/haier.html

Back to the restaurants because almost everyone trusts Chinese food restaurants in the U.S. and the world.

Most if not almost all of Chinese restaurants in the U.S. are owned and operated by Chinese, which is also true in whichever country one looks at or travels to. I don't know many people, if any, that trust a Chinese food restaurant in their country that is run by their own country's nationals instead of people of Chinese ancestry, to include here.

The PRChinese need to learn about expertise and to also recognize that their 'soft power' globally is nonexistent. China has been a culturally closed place for thousands of years so there's a lot they have to learn in a well globalized world. Everything in fact.

[keemapoot]

It was refreshing to see Publicus acknowledge a great Chinese corporate success in the case of Lenovo in this thread. CEO Yang was named by Barrons as one of the world's best CEOs last year, and not without good reason. They took an ailing IBM unit and turned it into the world's largest PC vendor, and are looking to do the same with Smartphones (more difficult task).

In other words, The Chinese have proven themselves adept at taking on a former great asset and revamping, improving and restoring it to greatness once again. I don't see any reason they can't and won't do the same with the Waldorf-Astoria.

After last month witnessing the largest IPO in world history, Alibaba (the Chinese e-commerce) company (another visionary CEO whom I know), it is somewhat naiive and outdated to refer to Chinese acquisitions or business interests in the US or elsewhere as being motivated by nefarious espionage. I can see the legitimate national security reasons for blocking the sale of a key logistics port, but a tired old art-deco historical hotel?

[Publicus]

I agree at the moment the USA remains one of the Chinese top investment venues as there is a good amount of bankruptcy and good deals to be snapped up ; pretty similar to Italy and Greece

Later if there is ever a recovery we will sell it back ...you can have them back when they raise enough money or use dishwashers as barter trade

NYC is hardly a market with bankrupt properties. It has been been doing very well lately, along with many other markets across the country. This investment trend sounds like the Japanese not that many years ago. Rumors were flying around they were going to "own" America. We all know how that turned out. Worked out great for many investors.

The Chinese is not interested to own America ...it used to be in the heydays when every big investment is focused on USA from all interested investors...these days it would be strategic buying that qualifies the market there ..there are still some great gems there

My recent travel patterns for the last month from Vancouver, Australia, NZ , Hawaii, French Polynesia Islands were to indicate ...the Chinese is pretty much diversified in where they want to plunk their $$$$ and the American imagery is still there on the radar but it's not the North Star anymore for them.

That's an interesting way to run up the white flag (alongside the red one).

The United States has not allowed CCP owned state corporations to buy in the U.S. and that's the bottom line.

This minor insurance company in the PRC is getting a U.S. Government legal review of its purchase of the Waldorf Astoria due to the fact it's the residence of the U.S. ambassador to the UN, foreign presidents and prime ministers stay there to include the president of the U.S and the Boyz in Beijing are notorious for their extensive and persistent espionage against the United States..

If this minor insurer in the PRC doesn't have a competent legal team to advise it on foreign asset purchases that would not be the fault of the U.S. government or of the Waldorf seller, Hilton International.

CCP owned corporations buying assets is not accepted or acceptable in very many other countries and It's not gonna happen in the U.S. Given the totalitarian nature of the CCP's dictatorship over the PRC, even a privately held company such as Onbang becomes a dubious at best foreign director investor.

The CCP can pull off that crap in Africa and in a few other places but that's about it.

Edited October 20, 2014 by Publicus

[Publicus]

It was refreshing to see Publicus acknowledge a great Chinese corporate success in the case of Lenovo in this thread. CEO Yang was named by Barrons as one of the world's best CEOs last year, and not without good reason. They took an ailing IBM unit and turned it into the world's largest PC vendor, and are looking to do the same with Smartphones (more difficult task).

In other words, The Chinese have proven themselves adept at taking on a former great asset and revamping, improving and restoring it to greatness once again. I don't see any reason they can't and won't do the same with the Waldorf-Astoria.

After last month witnessing the largest IPO in world history, Alibaba (the Chinese e-commerce) company (another visionary CEO whom I know), it is somewhat naiive and outdated to refer to Chinese acquisitions or business interests in the US or elsewhere as being motivated by nefarious espionage. I can see the legitimate national security reasons for blocking the sale of a key logistics port, but a tired old art-deco historical hotel?

With a full respect of one's views, balance and analytical abilities, I must say I own a Lenovo desktop and it is just horrible. It is a miserable monstrosity. When I press delete, for example, the lines move down instead of up...this is so since the day I bought the Chinese junk on the advice of (former) Chinese friends..

It's the worse machine since the antique car I owned during my years in college during which every mechanic in the city got to know me personally, not to mention the cheerful and cooperative local and state police departments that kept finding my abandoned broken down car on the highways and roads of the area.

Same same.

[LawrenceChee]

sEvery company has a horror customer service and every product out there has defects..Apple , GM motors, Toyota, HP , Microsoft Vista ??

and the list goes on ...it's dumb to plummet a company based on that as eventually those which are lousy by nature will eventually be out of the market as consumers shy away

Even Apple has it Newton moments...

Edited October 21, 2014 by LawrenceChee

[LawrenceChee]

It's astonishing how so many foreign dignitaries will stay there at this hotel ...I was there last year and gladly I would dismiss most of the management for such a shabby operation

The condition of the hotel is ridiculous for a famed brand and the Hilton has let it rot.

Even agoda and trip advisor has aplenty of horror and clients left unsatisfied. They came based on the reputation of the name and left completely disgusted with the value of the room.

This is almost similar to a lot of brand name hotels that market solely on their past reputation only and believe consumers have no choice

I believe after a good conditional review by any serious owners, this place would deserve a spot again in the luxury hotel collections.

[LawrenceChee]

"the Chinese is pretty much diversified in where they want to plunk their $$$$"

Vast majority of "the Chinese" do not have access to basics like clean water, clean air, clean food. What you mean is, "corrupt businessmen and politicians want to get their dirty money and their families in places they haven't polluted", all the while hypocritically manipulating anti-foreign sentiment in the populace to maintain power. Just like Russian mobsters in places like UK and NYC, or Putin's daughter in Holland.

Not unsimilar in USA where I find it disgusting hard working middle class families are exploited by the big companies

Lots still have to rely on food stamps and the only products available are GM modified corn products filled with preservatives which gives rise to further health problems later in their lives and obesity

How can a $1.25 banquet brand microwave chicken nuggets meal available at Walmart be nutritious ?

Must be there are also some corrupt businessman there exploiting the poor there too. Sad really in the big scheme of things that corruption is a worldwide problem ...some cleverly hidden

Edited October 21, 2014 by LawrenceChee

[Publicus]

sEvery company has a horror customer service and every product out there has defects..Apple , GM motors, Toyota, HP , Microsoft Vista ??

and the list goes on ...it's dumb to plummet a company based on that as eventually those which are lousy by nature will eventually be out of the market as consumers shy away

Even Apple has it Newton moments...

Lenovo yesterday won the best customer service award in the PRChina as determined by a panel of CCP market socialist judges but Lenovo doesn't show in global surveys of satisfaction among real customers because it doesn't have the global critical mass to register in the surveys or on the charts.

Standards and expectations also vary from country to country.....

Australia, Best Customer Service In The World?!

Canada, Australia and Germany have high rates of happy employees and some of the highest customer service scores. On the other hand, France, China and Turkey have some the lowest rates of happy employees and also have a low scores on the customer service satisfaction index.

https://au.smallbusiness.yahoo.com/news/a/-/16074338/australia-best-customer-service-in-the-world/

Apple is a leader this year in the category of the most improved customer service while its Apple Stores, much copied in the PRC, rank fourth globally for direct customer service. Hilton Hotels rank 7th and after they unload the Waldorf might jump to 5th, or even 4th..

Onbang the putative purchaser of the Waldorf Astoria doesn't show up in global surveys either.

http://cnbusinessnews.com/best-companies-for-customer-service-in-china/#axzz3GjazOpnd

Edited by Publicus for spacing.

Edited October 21, 2014 by Publicus

[lovetotravel]

It was refreshing to see Publicus acknowledge a great Chinese corporate success in the case of Lenovo in this thread. CEO Yang was named by Barrons as one of the world's best CEOs last year, and not without good reason. They took an ailing IBM unit and turned it into the world's largest PC vendor, and are looking to do the same with Smartphones (more difficult task).

In other words, The Chinese have proven themselves adept at taking on a former great asset and revamping, improving and restoring it to greatness once again. I don't see any reason they can't and won't do the same with the Waldorf-Astoria.

After last month witnessing the largest IPO in world history, Alibaba (the Chinese e-commerce) company (another visionary CEO whom I know), it is somewhat naiive and outdated to refer to Chinese acquisitions or business interests in the US or elsewhere as being motivated by nefarious espionage. I can see the legitimate national security reasons for blocking the sale of a key logistics port, but a tired old art-deco historical hotel?

Alibaba has some major problems:

http://money.cnn.com/2014/09/11/technology/alibaba-counterfeit-ipo/

"Some of [our clients] would estimate up to 80% of [their] goods found on Taobao ... are counterfeit."

John Motley, director of intellectual property at Columbia Sportswear, said that counterfeits on Alibaba's sites are a major problem. In hundreds of Taobao test purchases made last year, 82% of the products sporting the Columbia brand were actually fakes.

[keemapoot]

It was refreshing to see Publicus acknowledge a great Chinese corporate success in the case of Lenovo in this thread. CEO Yang was named by Barrons as one of the world's best CEOs last year, and not without good reason. They took an ailing IBM unit and turned it into the world's largest PC vendor, and are looking to do the same with Smartphones (more difficult task).

In other words, The Chinese have proven themselves adept at taking on a former great asset and revamping, improving and restoring it to greatness once again. I don't see any reason they can't and won't do the same with the Waldorf-Astoria.

After last month witnessing the largest IPO in world history, Alibaba (the Chinese e-commerce) company (another visionary CEO whom I know), it is somewhat naiive and outdated to refer to Chinese acquisitions or business interests in the US or elsewhere as being motivated by nefarious espionage. I can see the legitimate national security reasons for blocking the sale of a key logistics port, but a tired old art-deco historical hotel?

Alibaba has some major problems:

http://money.cnn.com/2014/09/11/technology/alibaba-counterfeit-ipo/

"Some of [our clients] would estimate up to 80% of [their] goods found on Taobao ... are counterfeit."

John Motley, director of intellectual property at Columbia Sportswear, said that counterfeits on Alibaba's sites are a major problem. In hundreds of Taobao test purchases made last year, 82% of the products sporting the Columbia brand were actually fakes.

It's actually even more complex than that. Many of the products are actually produced in licensed factories and are OEM spec in every way, but production runs in extra secret shifts and shuffled out the back door to be sold by traders on Alibaba. In fact, it is becoming increasingly difficult to distinguish real from fake and that is in deed a huge problem.