China's Inevitable Spending Spree To Cash-Out US Dollars

In the first quarter of 2016, Chinese companies have executed or proposed deals worth $100 billion for foreign assets across a range of industries (twice the amount U.S. companies have paid for foreign assets abroad over the same period). Among the highest-profile deals: Chinachem offered $43 billion for Swiss agrochemicals giant Syngenta, Haier paid $5.4 billion for General Electric's appliance business and conglomerate HNA group bought electronics distribution giant Ingram Micro. Others are almost surely coming. E-commerce giant Alibaba, to take one example, is said to be sniffing around in the entertainment and technology space.

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One reason the hysterical reaction to Japan [in the 80s] was, in hindsight, so unwarranted is that Tokyo was (and remains) one of America's closest allies... China is different. It is obviously not an ally and, as the last decade has shown, is arguably becoming Washington's chief geopolitical rival (though not an outright adversary like the former Soviet Union).