Angle of Attack: US, China investing in each other’s backyard

Last year, for the first time ever, China ranked No. 1 in the world among nations expressing interest in buying U.S. firms, according to the U.S. Treasury.

Meantime, while the U.S. military says its evolving Air-Sea Battle concept of waging war isn’t aimed at any specific nation, officers privately acknowledge that the key potential foe that falls within its crosshairs is China. A new private report pegs the cost developing of that capability at $524.5 billion through 2023.

The Treasury Department requires foreign companies to notify the U.S. Treasury’s Committee on Foreign Investment in the U.S. (CFIUS) to assess what impact such sales might have on U.S. national security.