Golf Digest reports that Chinese investors have bought thirteen Myrtle Beach Courses for a reported $47 million.
It is a good thing, and absolutely nothing to worry about.
Chinese purchases of real estate and golf properties in the United States are an expression of confidence in the US economy and our tradition of the rule of law and property rights. While investments in China are subject to the whims of their communist dictatorship, wealthy Chinese can be confident that money spent in the United States is safe. It is the same reason why they buy so much US debt.
For the courses and the Myrtle Beach area, it is a huge plus. To protect their investments, they are sure to spend money on maintenance and upgrades. That means jobs and money for the United States.
And for anyone who worries about Chinese purchase of US land, just remember this: they can’t take it back with them. We had the same worries about the Japanese in the 1980s and 1990s when they purchased things like Pebble Beach and Rockefeller Center. They’re still part of the United States.