By Tova Cohen TEL AVIV (Reuters) – China’s purchase of a controlling stake in Israel’s largest food maker reflects a broader surge in Chinese investment in an economy largely tethered to Western markets. The deal, announced on Thursday, gives China access to Israel’s high tech expertise, cachet among consumers made wary by domestic food production scandals and an alternative place to put their money amid trade obstacles from a wary United States. In return, China offers a large market and source of funding at a time of growing calls, especially in Europe, for a boycott of Israel over its failure to make peace with the Palestinians. Overshadowed by its high profile move into Africa, China’s role in Israel as been growing fast, despite concern among Israelis that strategic assets may slip from their grasp.
Israel welcomes tech-hungry Chinese investors
22
May
2014
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