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RIO DE JANEIRO, BRAZIL - It was in 2014 that Chinese insurance company Anbang took control of the traditional Waldorf Astoria hotel in New York. For US$2 billion (R$10 billion), an iconic hotel would become a landmark of Chinese expansion in the West.

Obama, the U.S. president at the time, declared that, for precaution and safety, he would no longer stay at the hotel, breaking a decades-long tradition of presidents staying at the Waldorf when visiting the city.

About four years after the takeover, the Anbang Group, an insurance giant with assets worth around US$301 billion . . .

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