Tuesday, May 5, 2009

GM's China sales surge 50 pct to monthly record

China will soon surpass the United States as the world's largest car market and GM is the largest automaker in China with the highest sales. Yet the Obama Administration and many Repbublican lawmakers say that GM is not "viable" and are pushing the company into bankruptcy! Absolutely crazy.

A forced, GM bankruptcy will not only affect the company's ability to produce vehicles in the United States (something that will have profound repercussions down the road), but may also impact its size and competitive position in China as GM is forced to sell good assets in order to meet the conditions of its bankruptcy.

This is stupid policy!

Japan's automakers were sustained by the government of Japan for decades through various means and this is the only reason they are in the position of preeminence that they are today.

Read full story here.

By sustaining GM the Federal Gov't would also be sustaining jobs, incomes and wealth-producing technology and capital, not just in the United States, but globally.

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