"Can Chinese Investors Save American Golf"

[David_Tepper]

Good luck to them!

http://www.bloomberg.com/news/articles/2015-07-15/chinese-buyers-of-u-s-golf-courses-tee-up-revival-plan

[Jud_T]

If he focused on gambling and golf he might have something...

[George Pazin]

Entertainingly prophetic article. Too bad it will be lost on most, including virtually everyone on here.

[jeffwarne]

Entertainingly prophetic article. Too bad it will be lost on most, including virtually everyone on here.

Please enlighten us
signed
Most/virtual everyone

[Mark Pavy]

Here's a figure for you: If the Chinese took to golf like their neighbours, Korea and Japan, China would need to build 50,000 golf courses! Maybe they're just going to buy them.

[Wayne_Kozun]

Here's a figure for you: If the Chinese took to golf like their neighbours, Korea and Japan, China would need to build 50,000 golf courses! Maybe they're just going to buy them.

Huh?  Japan has about 127M people and 2400 courses.  China has 10X the population and currently has 500 courses.  So if they took to golf like Japan then they need to build about 23,500 courses.

[Brent Hutto]

Maybe all the NGF guys who came up with "A Course A Day" back in the 90's can move to China and sell it over there as "A Course An Hour".

I swear this article makes it sound like the Chinese guys flew through a time warp on the way from Shanghai to Myrtle Beach. They're going to party like it's 1999!

[Jamey Bryan]

Entertainingly prophetic article. Too bad it will be lost on most, including virtually everyone on here.

Jeff, I suspect George is saying the Chinese are finally tiring of sitting on T-Bills with the dollars they have accumulated over decades of US/China trade deficits, and are now accumulating hard assets in the US (after all, a dollar is nothing more than a claim on goods and/or services from the US).  This reminds me of the actions of the Japanese back in the '70s and '80's, except that the Chinese don't seem to be grossly overpaying for the assets they are acquiring.  The scope of the problem we've created with our continuing deficits is demonstrated when one realizes that (several years ago) the net debt owed by the US to China is enough to acquire the entire listing of the NYSE.

Hopefully, the acquiriing individuals in Myrtle Beach will prove to be responsible operators and the local industry will not be greatly disrupted.  I must say I'm concerned for the future of Myrtle Beach Holiday, though I can't blame the new operators for taking a hard look at such a large expenditure.

It will be interesting to see if they are successful in attracting significant numbers of Chinese players.  If so, it would be a large benefit to the area.

Jamey

[Wayne_Kozun]

Jeff, I suspect George is saying the Chinese are finally tiring of sitting on T-Bills with the dollars they have accumulated over decades of US/China trade deficits, and are now accumulating hard assets in the US (after all, a dollar is nothing more than a claim on goods and/or services from the US). 

I think it is a bit of a stretch to imply that SAFE and the PBOC are reallocating assets from US T-Bills to golf courses and real estate held by a private Chinese enterprise called Yiqian Funding.

And by the way the Chinese are overpaying - look at today's WSJ article CNOOC's purchase of Canadian oil company Nexen.  Or the Vancouver real estate market.