November 21, 2008
Chinese shopping around for car companies
With the current financial conditions comes opportunities for cash rich businesses to take over companies at a much lower price than they could have done a year ago, one such industry is the car industry, these companies were in bad shape before the credit crunch, so it is a wonder that they are still running now.
However, there is hope for these failing businesses and this help comes from China, it seems that the Chinese are looking to go shopping and carmakers are high up on their shopping list.
These may not total takeovers, simply because their respective governments may not allow the Chinese to come in and take over everything especially during this type of crisis. Nevertheless, what China can offer is a serious partnership, where the cars are made in China and exported to the world.
Being joint partners like this would save the industry, but would not save the jobs of the workers involved in car production, another cause for concern for the governments.
Source [Huffington Post]
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