More reason to panic in Detroit--Chinese automakers may buy GM

[darksumomo]

It might be more reason to panic in Washington, as the jobs may be saved, but the control will go overseas.  When a Chinese company offered to buy Union Oil Company, that deal was considered to be a security threat.  The same might be true with this news.

From thetruthaboutcars.com.

Chinese Automakers May Buy GM and Chrysler

By Bertel Schmitt
November

Comments

[celestriad]

haha, took me a while to get to this entry. but ugh, i would absolutely hate to see any of the auto companies fall into china's hands. there have just been too many reports of poisonous and/or faulty products coming from china for me to ever feel safe buying anything much from them, much less a car.

[darksumomo]

Even if companies from the PRC made perfectly safe products, there's still the danger that they'd have control of much of the United States' industrial capacity. While someone could say "but what about Daimler-Benz owning Chrysler?" the differences are that 1) the German government wasn't a majority owner of Daimler-Benz, 2) the Federal Republic of Germany is an ally, not a rising great power rival, and Chrysler was the smallest of the major US car companies, not the largest.

Suppose we end in a serious conflict with PRC. We'd be in such a precarious position that the PRC could win without firing a shot. Sun Tsu would be proud.

[celestriad]

yes, i definitely also saw the danger of letting the chinese government own any large share of any important u.s. company (i mean, how could i have missed the point of your entry, right?). safety of what comes over here is just an additional concern of mine. :P

gotta love the art of war...