Rick Snyder to Chinese investors: 'You're over-weighted in your portfolio'
Gov. Rick Snyder, a former Ann Arbor venture capitalist, told Chinese investors during a trip to Asia in September that they should consider diversifying their investments, according to a transcript of an interview yesterday with the Detroit Free Press.
Snyder said he offered a critique of the Chinese business executives' strategies.
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It's not clear whom Snyder was referring to. He met with a number of high-level politicians and business executives during the trip. In Japan, he met with executives such as Katsuaki Watanabe, vice chairman of Toyota Motor Corp..
Snyder added: "You can go put (investments) in Treasuries or other financial instruments and get no return or you can make a great investment in a value place to be in the world which is Detroit, Michigan. So come invest in real assets here because you’ve got all the upside.”