Well, I hope they know that Hummers get like 8 MPG. But this is the clearest example that the Chinese are going to cash in their dissolving dollars for real assets.
Americans are going to have a hard time swallowing the idea that to get better, we must sell off the last manufacturing capability we have and become totally dependent on China.
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Two comments. First, the Chinese are cashing in their worthless dollars for hard assets. Look for them to buy more GM or Chrysler assets to reduce their exposure on the dollar. This will produce inflation in the US and expertise in China that we can ill afford.
Second, much has been made that Hummer was "worthless" or "produced cars that we need to no longer produce." Heads up. The Chinese are not going to make Hummers - they are buying tons of auto manufacturing expertise to begin making sensible - and cheap - cars for export. The Japanese should be terrified.
I was thinking they would use the technology to build HUMVEEs for the Chinese military.
http://tinyurl.com/68b5xd
I think the Chinese car is a sure thing too. But I bet it will first come to the US as a Saturn car, since they're now looking for a manufacturer.
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