Problem: The company was founded in Smithfield, Virginia, in 1936 and was acquired in 2013 by Hong Kong-based WH Group for $4.7 billion; including debt, the deal valued the firm at $7.1 billion, then the largest acquisition of a U.S. company by a Chinese business. This is the example of FDI - purchase of a physical business entity in a foreign country. Now, Smithfield has 40,000 American jobs at 45 facilities with nearly 500 company-owned farms, including 17 in California. Was this Chinese FDI beneficial for the US economy?