manufacturing: Chinese sovereign wealth fund China Investment Corp CIC and US financial giant Goldman Sachs have begun investing in US manufacturing through a multibillion-dollar fund the two created roughly two years ago, the fund's first investment, a Wall Street Journal article revealed on Friday, according to Global Times China. The investment, yet to be publicly announced by either side, apparently offers a path to rekindle the US manufacturing sector. Photo VCG Manufacturing, a weak spot in the US economy, could become a tailwind if the US sincerely takes a market economy approach to Chinese investment that's keen on capitalizing on the US manufacturing revival. As the WSJ article put it, the fund can serve as a stable source of long-term capital for US projects, citing CIC executives. In another compelling sign, American Factory, a documentary produced by former US president Barack Obama and his wife Michelle Obama for Netflix, debuted in late August and has drawn immense attention to a factory in the rust belt state of Ohio that had closed. The investment exemplifies market-based efforts to fund manufacturing and infrastructure projects in the US that in some cases only build castles in the air, factoring in discrepancies among the three branches of the US government and between federal and state governments.
(news.financializer.com). As
reported in the news.
Tagged under manufacturing, manufacturing revival topics.