The acquisition of Smithfield by a Chinese company has heightened public discomfort toward two economic giants. President Barack Obama sits with Chinese President Xi Jinping this weekend and to discuss the said deal. Supporters of the said acquisition tell Americans to relax.
The US$4.72 billion deal between US Smithfield Foods Inc. and Shuanghui International Holdings Ltd. is the biggest Chinese deal in the US to transpire. Last week, Iowa Senator Charles Grassley expressed his worries about the food supply. Surveys also show that majority of people want to place restrictions on Chines investments in the US.
On the other hand, Stephen Orlins, President of the non-profit group National Committee on US-China Relations said that Americans can benefit from the investment of the deal. He added that the said deal will bring cultures closer as it creates jobs and pay taxes. More benefits are to transpire for American asset and stock prices as well as pension plans.
The White House spokesperson Caitlin Hayden did not respond to a request to preview agendas from the talk between the US President and China's President, Xi Jinping.
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