Add this to My Reasons not to Buy a GM Car: China Wants to Purchase Part of GM

Reuters is reporting SAIC China now wants to purchase a major stake in General Motors, and considering how much the US Government owns in GM and how much the US Government owes China, it's probably as good as already signed over to the Chicoms. In recent weeks, foreign investors like China and Japan have been dumping worthless treasure bonds for bonds that are based in solid infrastructure like roads and other viable structures. Now it appears GM, the producer of the brand that once advertised baseball, hot dogs, apple pie, Chevrolet is now in their targets as well.

The most interesting thing about this is Chevy has been at war to keep the brand Chery, a Chinese car out of the country, due to the closeness of the name. That all my be a moot point.

The Chinese doesn't necessarily want GM to make profitable either. The real kick in the butt here, after taxpayers bailed out GM, is the fact that China wants the technology. There may not be any commitment to American jobs if a deal was reached. In fact, once the technology was sold to the Chinese, there is no guarantee any of the GM labels would survive. It's obvious China wants to kill the American industrial empire, and GM is no in its sights. How are we going to stop it? The government still owes 61% of GM, and the government owes China billions.

Buying GM would put China in a place to be the top manufacturer of cars around the world. And why not? They have taken over almost all other American manufacturing as well. Have you been in a Walmart lately?

On a good note though, they tried to do this in 2008, and it didn't happen. I guess we will have to watch.