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And what kind of plants? Will those plants make products for China?
BTW...Should the Japanese, Koreans and Germans remove their U.S. plants?
The only problem i'd have is if they close a U.S. plant and reopen it in China.
Oh, and BTW...HELL YEA i'm glad that we bailed them out. Absolutely.
This.
The same people touting our lavish American lifestyle (especially for the poor) can't also complain that China demands much less in wages and benefits, tax rates, regulations, etc.
This is what happens in an international economy, and with the state of our domestic manufacturing sector, we can't exactly resort to isolationism, not anymore.
Aren't the right wingers always proclaiming that businesses have a right to be profitable? Well this is how it's done.
The Chinese automobile market became the largest in the world a few years ago, supplanting the North American market (which is now the second largest).
China doesn't allow auto imports. If a foreign automotive company wants to get into the largest automobile market in the world, then they've got to partner up with a local corporation to form joint ventures to build vehicles there.
General Motors sells more vehicles in China than in North America, and has for a while now. GM's plants in China are at full capacity. If GM doesn't build those four new plants, then they are leaving money on the table.
If the federal government didn't step in, then all of General Motors would have gone to liquidation. The feds did create a new corporation that purchased about half of the assets of old GM.
The old GM, now known as Motors Liquidation Company (OTC Pin MLCQU) has managed to sell about half of the former General Motors real estate properties for about $26 million dollars.
The US is doing it's part to build up other country's economies.
Think of all the jobs it will create.
Are you suggesting GM should bankrupt itself by paying workers 5 times less in the US?
Or are you suggesting the US makes manufacturing domestically equally attractive by destroying the minimum wage, tax rates, OSHA, and various other regulations?
If it's neither, then what do you suppose we do to bring manufacturing jobs back home? Keep in mind there's virtually zero realistic solutions.
....in China. Are we glad that we bailed them out?
I don't by GM or American made cars. Your Buick is made in Mexico and my Subaru is made in Ill, and I have a lot less trouble with it.
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