Expansion of Chinese Ownership of Farms in U.S. Raises Concerns

The recent expansion of China-owned land in the U.S. is raising concerns about the  food supply chain and affordable land in Michigan, reports SpartanNewsRoom, from the Michigan State University School of Journalism.

Proposals to block some real estate investments by China-based companies, mostly agricultural land, including forestland and farms, are part of the ongoing tension in trade relations between China and the U.S. Farmlands often attract foreign investors because the properties appreciate in value over time, and generate income.

A bill by Reps. Tom Kunse, R-Clare, and Matt Hall, R-Richland, would prohibit “certain foreign ownership of certain real estate.” This would make the purchase of farmland by Chinese entities more difficult.

The restrictions would apply to “adversarial entities,” a term that refers only to the People’s Republic of China, the Chinese Communist Party, their governmental entities and “any person that has sworn an oath of loyalty to the People’s Republic of China or the Chinese Communist Party.”

However, William Knudson, an agricultural economist at Michigan State University and a previous agricultural policy adviser for the Senate Majority Policy Office, said that the ownership of Michigan farmland by China is “awfully close to none.”

“If I was worried about foreign ownership of the food supply I would not focus on land,” he said. “I’m focused on things like owning seed companies, major grain shippers and handlers because that’s where the choke points are in the agri-food supply chain.”

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• Source: https://www.supplychainbrain.com/articles/38334-expansion-of-chinese-ownership-of-farms-in-us-raises-concerns