Shuanghui International’s $7.1 billion purchase of US pork giant Smithfield was a US milestone for many reasons. Not only was it the biggest investment ever by a Chinese company, it also was proof that the US government could make impartial decisions about Chinese investment. And it meant that 70,000 US workers are now in the employ of Chinese-owned, US-based companies—more than twice the pre-Smithfield number—according to Rhodium Group, an advisory firm.

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