Over the past three decades, real estate has gained a new significance on the world stage, as many states have relaxed laws to open up national property markets to international buyers. This has not only intensified international business activities: it's also offered states a new way of pursuing their global political ambitions. 

The abandoned Packard Plant in Detroit is one of the most famous buildings to be sold after the city filed for bankruptcy. It’s famous both for its mammoth size — 40 acres in the eastern part of the city — and its state of ruin. The plant has been closed for more than 60 years and aerial photos make it look like a scene from a disaster film. But that doesn't seem to daunt Spanish developer Fernando Palazuelo, who lives in Lima, Peru. He recently bought the Detroit plant at an auction.

Policy makers in Beijing also want to bolster China’s “soft power” capabilities to extend its cultural influence internationally, and the film industry is considered one of the most promising avenues for doing so.