Chinese takeovers of overseas brands worthy of attention
It is surprising that takeovers of international companies and brands by Chinese enterprises have received so little media coverage despite three major deals being struck in the first few weeks of January 2016 alone.
The most remarkable of the deals involved Chinese household appliance maker Haier. The Chinese company not only acquired General Electric's appliance unit for a staggering $5.4 billion, but also made clear its intent to make a mark in markets in both East and West.
Given the state of the world economy, it is important that Chinese companies gain a strong foothold in the more lucrative and competitive markets of the United States and Europe, and Haier's takeover of the American company's unit will boost their confidence in this regard.
