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Eastern Influence

Chinese investment is starting to pour into the West.

This story appears in the May 2005 issue of Entrepreneur. Subscribe »

In the '80s and '90s, cash-rich Japanese firms acquired and invested in a cornucopia of businesses and other U.S. assets. Now, Chinese companies are becoming increasingly active in buying, merging with and doing joint ventures with smaller U.S companies, and experts say it looks like the beginning of another wave of Pacific Rim investment.

"China is definitely becoming a source of capital for U.S. companies," says Michael D. Lord, associate professor of management and director of the Flow Institute for International Studies at Wake Forest University in Winston-Salem, North Carolina. Lord says Chinese investment could parallel--and exceed--the Japanese buying binge.

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