“It wants to spend those dollars on things that it can’t get by piracy, such as nuclear power plants, Boeing jets, Intel microprocessors...”
Correction: Things it can’t get by piracy YET!
I posted this on another thread:
Not exactly piracy, but you’ll get the idea...
Our trade with China needs to be reevaluated for a whole host of reasons, one of which is the suicidal tendencies of our corporations, who send manufacturing over there and end up developing their own competition.
A perfect example was in the WSJ on Friday. Favorite car of the up-and-coming Chinese? A Chinese-produced Buick. Oh, excuse me, it USED to be that Buick. Now, the company that was producing Buicks for GM has come out with their OWN upscale car.
GM’s response? “We were told early on that it might come to this, but we felt it was important to be in China anyway.”
It’s happening in industry after industry. As Bugs Bunny said: “What a bunch of maroons!”
Well GM had to expect Chinese competition eventually. GM just has to build better cars than the local competition. I mean geez, GM has a 70 year head start on Chinese companies at least in terms of management techniques, if not the actual technology of making cars (which they provided to China.) GM should do reasonably well in China, but they can’t get lazy and they have to stay two steps ahead of the local competition.