Sun’s path - from obscure origins, to billionaire industrialist, to the crosshairs of Texas lawmakers - was fueled by the transformation of China’s economy over the past 30 years.
A savvy dealmaker with decades of experience, Sun may yet expand his U.S.
Despite the political firestorm, he intends not only to keep GH America’s land, but to lease it to other companies to build and operate solar panels and the Blue Hills Wind Development, according to a GH America spokesman. The Lone Star Infrastructure Act may be law in Texas now, but Sun hasn’t given up yet. “I think many more wealthy Chinese will fear their future based on what has happened to Jack Ma and others,” says Hong Kong-based Alicia Garcia Herrero, chief economist for Asia-Pacific at French investment bank Natixis. Tycoons like Sun, who thrived under Chinese state-backed capitalism, may be feeling pressure to move capital abroad as they grapple with the shift in political winds. In recent months Chinese authorities reined in globetrotting billionaire Jack Ma, moved to restrict overseas listings and ordered educational companies to become non-profits. Over the past few years, the Chinese Communist Party appears to have grown more antagonistic toward private enterprise and wealthy business people. Sun’s decision to invest in Texas also highlights the difficult situation facing China’s moguls. The clamor surrounding Sun has stoked domestic fears of Chinese direct investment and given a human face to trade disputes between the two countries.
0 kommentar(er)
