We've invested more in China than any other private equity firm -- about $2.5 billion of equity and forty-some transactions in real estate, venture, and buyout types of investments. We have about 45 full-time professionals investing in China. All of them are Chinese natives who were educated in the U.S. or other places, in some cases China. We cannot put enough money in China. We'll do every good deal we can find.The Carlyle Group added another $1 billion investment in China, reaching $3.5 billion. Carlyle already lost face and money from accounting scandals at affiliates China Forestry and China Agritech. Now they face a deteriorating Chinese economy. Consider this Fall 2011 report:
The Financial Times recently reported that more than 90 factory owners have already abandoned their investments as large, cheap loans come due and sales dropped because of diminishing global demand.