General Motors expands in China

news.bbc.co.uk...

news.bbc.co.uk

General Motors has signed up to a 2bn yuan ($293m; £180m) joint venture with the Chinese state-owned carmaker FAW to make light trucks and vans.
The vehicles will initially be sold in China under the FAW brand, but could in future be exported under the GM brand.
They will be produced at existing FAW facilities in the cities of Changchun and Harbin.
GM sold 818,442 vehicles in China in the first six months of 2009, compared with 1,094,561 in the whole of 2008.

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[edit on 30-8-2009 by 12.21.12]

Correct me if I am wrong, but wasn't GM the huge part of this financial bailout that has been put under the federal governments graces to supposedly help bail out our economy?

Why then is GM being outsourced to China?





What are your thoughts on this ATS?



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news.bbc.co.uk
(visit the link for the full news article)

This is perfect for GM. China is a huge market and would allow them to return to profitablility very quickly.

Originally posted by princeofpeace
This is perfect for GM. China is a huge market and would allow them to return to profitablility very quickly.

Remember, the U.S. government owns GM - it is not a private corporation in the true sense of the word anymore. Does this benefit American workers? No, it does not. Does it benefit the "GM corporation"? Possibly. Does it benefit Chinese workers? Definitely.

To answer the OP's question, I believe that GM was in the deal struck while Hillary was in China shortly after Obama's inauguration and shortly before the GM government takeover occurred. It went like this: we'll give you our auto industry if you'll not take your money out of dollars.

Please add your additional links and thoughts to the related thread here.

Thank you.

Thread closed.