Detroit's Big Three automakers may need to send a special 'no thank you' card
to the Chinese people if they end up receiving their requested $25 billion
bailout bridge loan from American taxpayers.
Chinese carmakers SAIC and Dongfeng have plans to acquire GM and Chrysler,
the auto manufacturing giants in China, such as Shanghai Automotive Industry
Corporation (SAIC) and Dongfeng Motor Corporation, have the capability and
intention to buy some assets of the two crisis-plagued American automakers. In
2007, the Shanghai Automotive Industry Corporation (SAIC) purchased Nanjing
Automobile Group, becoming China's largest manufacturer of automobiles. Now they
are aggressively expanding into the global market and the situation in the U.S.
is just too good to pass up.
