Hi feardia,
China could want to buy the US car makers because they NEED to spend the dollars they have in their reserve. If they don't spend the dollars now, whilst it's quite high in value terms (many agree that it's over valued) they would lose a lot of money later on when the dollar crashes and the value is nothing more than the paper it's printed on.
So, in a way, China is getting a very lucrative deal, if they manage to pull it off, ready made factories with cheap labour costs as the current workers will all be laid off and will only be re-employed for a fraction of the over inflated union (a)greed(y) salary which they have at present, with over valued currency which nobody wants, which they have to shift anyway.
Best regards,
Steve
Quote:
Originally Posted by feardia
Why would the Chinese want to buy the lame duck US auto industry? They are having a recession of their own, the US factories are tooled up for producing Hummers and other gas-guzzling nightmares which no-one will be able to afford to run.
Looks like the American people have been fleeced by their rulers, bankers and CEO's, they'll hand the lot over to China and **** off to Israel- so long, suckers, and thanks for all the fish.
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