Quote:
Originally Posted by Steve_A
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 |
I take offense to your label of an union salary as "greedy". As a member of an union, I enjoy the benefits that it gives me and I'm a custodian. Employees of the Big Three make at least twice or 2.5 times what I make a hour.