The UK’s national GDP declined by 9.8 percent in 2020, the steepest drop since consistent records began in 1948. The magnitude is unprecedented in modern times and China is reportedly taking full advantage of Britain’s precarious economic situation. Bejing has the world’s largest foreign currency reserves allowing it to purchase teetering businesses and assets from other nations during recessions.
Now, China’s vulture capitalists have swooped amid the coronavirus pandemic and bought up a plethora of British firms at bargain prices.
The firms originating from China have bought nearly £6billion of cut-price British businesses that were teetering on bankruptcy because of prolonged lockdown conditions, the Sun on Sunday reports.
Chinese companies, that answer directly to the politburo in Beijing, reportedly now own £130billion in British based assets.
The assets range from utility firms and power stations to pubs, and even schools.
READ MORE: Brexit: Frost to present solution in major boost to UK industry
The magnitude of the Chinese ownership over British companies has sparked fears…