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British Owners Face Bleak China Outlook in Takeovers
From Hong Kong report the Red Peiping radio seized three Shanghai utilities and the Mackenzie Company factories in three cities. British and American plants are heavily curtailed by regulation and taxes, with many foreign assets already seized or crippled. Analysts cite retaliation for US aircraft aid, wage reforms excluding foreigners, and a broader foreign commerce crackdown tied to China’s five year plan.
MENTIONED IN THIS ARTICLE
Hong Kong
China
Red Peiping Radio
Shanghai
Mackenzie Company
Reds
British Asiatic
Shell) Petroleum Company
Shanghai Waterworks
Shanghai Gas
Shanghai Tramways
New China News Agency
China Air Transport Line
Claire Chennault