Chinese entrepreneurs have made deals with the NBA, FIFA and AC Milan, and now own Wilson Sporting Goods and the Louisville Slugger.
Milan, the birthplace of Dolce and Gabbana and Alfa Romeo, is a quintessentially Italian city. But in recent years, if you attended the storied Derby della Madonnina, the match where the city’s soccer rivals face off, one thing might have stood out: each team has had Chinese investors.
In 2016, the Chinese appliance giant Suning bought a majority stake in Inter Milan — one of the most storied names in Italian soccer — for close to $300 million. A year later, Chinese investors spent more
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Bob Fu's relationship with China has gone through phases. First, he thought money would solve his problems there; then he joined protesters at Tiananmen Square, thinking the politics could change. In the end, he determined, only God could save China, and he's been fighting for religious freedom in China ever since he resettled in Texas. With his nonprofit, ChinaAid, prospering like never before, he says the U.S. is finally catching on.