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China changing Seattle's business landscape
Alison Morrow6:34 p.m. PST February 21, 2015
Past the luxury cars, across the red carpet, next to the chocolate dipped strawberries and glasses of champagne, Seattle-area businesses courted clients economists expect will offer $1 trillion in available investments by 2020.
They're all from one country: China.
Garrett Werner designs deluxe architecture and interiors and set up a booth Saturday next to Roderick Roy, manager for Sundance yachts.
"I would think of James Bond," Roy laughed. "Around the $700,000 range, fully loaded."
That's $700,000 - but not just anyone's buck.
On the 35th floor of the downtown Sheraton, the sun shined on a new year: the Chinese new year in the city that wants its money.
The Passport to Luxury event has already made stops in San Francisco, LA, and Vancouver. Now, Seattle is poising itself for a chance to earn what economists expect to be a trillion dollars of Chinese investment by 2020.
"Used to look at American firms outsourcing to China -now it's Chinese companies that want to go global," explained Marc Berger of China Practice.
It's why home prices are spiking in west Bellevue, as foreign buyers compete for hot property by paying cash.
It's also why Bellevue-based Masins custom furniture hired a Mandarin translator, Sundance is re-scripting sales pitches, and Werner specializes in Feng Shui.
"It's sort of a spiritual balance when you're looking at a property," he said.
Rosline Hampton owns a personal shopping company and salon to offer a trifecta of make-up, hair and clothing.
"We're very interested in expanding more into the Asian market," Hampton said.
Thanks to beauty, education and tech, Seattle's competition for foreign capital is melting.
"Seattle is now ranked #6 top market in the world," said Realogics owner Dean Jones of Sotheby's International Realty.
China changing Seattle's business landscape
Alison Morrow6:34 p.m. PST February 21, 2015
Past the luxury cars, across the red carpet, next to the chocolate dipped strawberries and glasses of champagne, Seattle-area businesses courted clients economists expect will offer $1 trillion in available investments by 2020.
They're all from one country: China.
Garrett Werner designs deluxe architecture and interiors and set up a booth Saturday next to Roderick Roy, manager for Sundance yachts.
"I would think of James Bond," Roy laughed. "Around the $700,000 range, fully loaded."
That's $700,000 - but not just anyone's buck.
On the 35th floor of the downtown Sheraton, the sun shined on a new year: the Chinese new year in the city that wants its money.
The Passport to Luxury event has already made stops in San Francisco, LA, and Vancouver. Now, Seattle is poising itself for a chance to earn what economists expect to be a trillion dollars of Chinese investment by 2020.
"Used to look at American firms outsourcing to China -now it's Chinese companies that want to go global," explained Marc Berger of China Practice.
It's why home prices are spiking in west Bellevue, as foreign buyers compete for hot property by paying cash.
It's also why Bellevue-based Masins custom furniture hired a Mandarin translator, Sundance is re-scripting sales pitches, and Werner specializes in Feng Shui.
"It's sort of a spiritual balance when you're looking at a property," he said.
Rosline Hampton owns a personal shopping company and salon to offer a trifecta of make-up, hair and clothing.
"We're very interested in expanding more into the Asian market," Hampton said.
Thanks to beauty, education and tech, Seattle's competition for foreign capital is melting.
"Seattle is now ranked #6 top market in the world," said Realogics owner Dean Jones of Sotheby's International Realty.
China changing Seattle's business landscape
