alt Hacker News > Plenty of countries have spent billions on new construction in the US and gotten smoked.
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selectodude • today at 3:27 PM
Japan in the 1990s, ME sovereign wealth funds in the late 2000s, China in the mid 2010s.
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The point is foreigners reinvesting those dollars into development in the US is... even more stuff in the US in exchange for bits.
Yes, it's owned by foreigners and sends cash overseas but all of the economic activity is here and if push came to shove.. they're not exporting the building.
It's not all gravy, there are issues with having global capital so deeply involved in the country, but it's better than the alternative, there's a reason Americans live so well and its not because they're all smarter or harder working.