Categorized | Economy, Trade

GM: China “The Crown Jewel” of our Universe

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Um… I don’t remember China bailing out GM.  I thought that I and my fellow taxpayers – here in the good ol’ U.S. – bailed out the company.  The CEO of GM speaks:

Calling China “the crown jewel in the GM universe,” Chief Executive Daniel Akerson said the automaker plans to launch more than 20 new or redesigned cars in China over the next two years.

Is this why we bailed them out?  So they can grow elsewhere, the stock market can rise, and jobs/income don’t?

When we spend taxpayer money on bailouts, the government should condition the money on benefits (jobs and profit) here.  When the government buys stuff, it should Buy American.  When the government gives R&D tax breaks, it should condition those tax benefits on companies who agree to make the products here… or forfeit those tax breaks.

4 Responses to “GM: China “The Crown Jewel” of our Universe”

  1. Don Rongione says:

    And I was looking to buy a GM for my next car…guess I need to look at a Ford or Lincoln!

  2. Mr. E says:

    GM got bailed with money printed out of thin air with computer key clicks so that they can transfer technology to China where their joint venture partners who are backed by the Chinese printing press will eventually absorb their technology and become competitors with GM. Of course the US Congress will say the reason this happened is because Americans need more education. Of course they will never mention how the money printing out of thin air distorts trade and allows countries with industrial policies to endlessly back their companies so that they never go out of business.

  3. Louie says:

    Pretty disgusting especially this:

    “He said GM plans to do more of its research and development as well as its engineering and design work, now largely centered in the U.S., in China.”

  4. milt heft says:

    General Motors played a huge part in America’s “Arsenal of Democracy” during World War-2. Comes WW-3, will GM be a large part of China’s “Arsenal”? And who will be China’s adversary? “Engine Charlie” (Wilson) never would have done this.

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