If the jobs don’t all go to China, I will be interested in the Chinese union-labor relations.
The Chinese are probably not going to cave in to every demand the union boss thugs can dream up the way GM has in the past. GM's unfunded liability for retiree pensions and medical benefits is currently about $14 billion, and that doesn't include active employees. GM's fund has roughly $84 billion and it's liability is close to $100 billion.
“GM is a benefits-paying organization masking itself as an auto company. The real function of the company is trying to pay pensions and retiree health care. They could produce a car to compete with Toyota but couldn’t pay the retiree liabilities they agreed to many years ago,” said Donald G.M. Coxe, chairman of Chicago-based Coxe Advisors LLC. Coxe doesn’t invest in GM.