Chinese-owned firms in the U.S. added between 10,000 and 20,000 workers in the past five years and helped shore up some financially troubled U.S. firms, a congressional advisory panel said in a study released Wednesday.Reuters reports the U.S.-China Economic and Security Review Commission found the investments to be largely driven through subsidies given to state-owned enterprises, often resulting in market distortions.
These investments could be seen by some as a potential Trojan Horse on the U.S. economy, the study said, according to Reuters.
The report says private economists estimated Chinese direct investment in the U.S. to be nearly $30 billion through the end of 2011.
This study, conducted by Capital Trade Inc., comes nearly a month after the House Intelligence Committee recommended the U.S. government not purchase equipment from Chinese telecom firm Huawei, raising concerns the firm’s equipment could be used for espionage.
