June 25, 2012 8:52AM

The Benefits of Foreign Investment: D.C. Gets It

Of course, when I say D.C., I don't mean the federal government.  I mean D.C. Mayor Vincent Gray.  The Washington Post explains:

D.C. Mayor Vincent C. Gray leaves Saturday for a week-long trip to China to try to secure billions of dollars for investment in city development projects, including potential financing of the proposed 37-mile streetcar network.

In his first overseas trip as mayor, Gray (D) is looking to build on what he sees as China’s growing interest in the nation’s capital, as that country’s wealthy investors look to park large amounts of money in U.S. real estate.


When asked about a potential for congressional or public backlash about so much Chinese investment in the District, Gray said, “They are already heavily invested in America.”

“They are not heavily invested in the District of Columbia,” he said. “We are expanding our own horizons here and maybe moving some projects along more quickly.”