Posted on 08/31/2019 7:12:02 PM PDT by 2ndDivisionVet
On Friday, the 30th of August 2019, US President Donald Trump, who had been engaged in a rattling battle all over the world with Beijing over tariffs, prodded No. 1 US automaker, General Motors Co., the Detroit-based US multinational automotive corporation to shift its manufacturing hubs back into the United States.
Meanwhile, criticising the Detroit-based automaker’s move to shift a majority of its larger plants to China aimed at averting China tariff on US-based autos, while remaining competitive in the largest auto market in the world, China, Trump tweeted in a post earlier on Friday (August 30th), “General Motors, which was once the Giant of Detroit, is now one of the smallest auto manufacturers there.
They moved major plants to China, BEFORE I CAME INTO OFFICE. This was done despite the saving help given them by the USA. Now they should start moving back to America again?” Aside from encouraging General Motors to resume its operation in the United States, Trump had also referred to a Bloomberg News that reported a downsize of General Motor’s US-based workforce below 46,000 due to a number of factors including tumbling auto sales in the major economies across the world alongside a higher operational cost, while in response to Trump’s Tweet, the Detroit-based automaker which halted operations in four of its North American manufacturing hubs earlier this year citing a heightening of operational costs alongside a rumbling trade war, said in a fact sheet on Friday (August 30th), “GM’s China operations are not a threat to U.S. jobs”.
(Excerpt) Read more at financial-world.org ...
And Canada, don’t forget they build GM stuff there too. And Ford transmissions in Mexico (saw that on a MSRP sticker).
That should have been a requisite for bailout money, but go figure.
Why do people keep buying this GM garbage.
GM sells more cars (over 4 million per year) in Communist China than it does in North America, per the financial reports
so it makes sense for GM to have some investment there...
still, I am pleased that we have a president who is interested in jobs for American citizens.... even one more factory in USA will provide jobs for 5,000 or more people
Seems like banks boycott gun stores but wont boycott GM for moving to China... keep giving them and their customers prefered loans to sell their garbage. Thank you bailout money to china...
They won’t. They want the chinese market. They can’t compete in the US like they used to.
I do not know where those GM China cars are sold. If those GM China cars are made and sold in China then so be it. Each nation should have the right to make its own stuff. If the GM China cars are sold in mass in the USA then GM should re think its methods of operation.
GM took the bailout money, and promptly stopped constructing the Delco Advanced Technology Research Center in Kokomo, Indiana, and spent a hundred million dollars of US Taxpayer bailout money moving it to China.
Thousands of good-paying US jobs shipped to China, and you paid for it...
“Home” with quotes? No bias there.
NONE of the money GM makes in China is allowed to leave China. GM in China is a wholly owned subsidiary of the CCP.
Once the Chinese have perfected copying GM cars in china..they will regret ever going there. These ignorant Ceos let their greed cloud the big picture.
The CCP is our enemy and any company that deals there are traitors imo.
interesting
communist china tries to restrict the export of capital by its rich and ruling elite... but appears to be pretty unsuccessful, there being SO many ways to move $$ around the world nowadays!
By moving to China, GM can produce better cars using the technology China steals from us....much easier than staying ‘cutting edge’ by working for it.
If it’s a country that can nationalize an entire industry in retaliation to what offends it’s leaders. Transfer profits, cut loses and get out.
Based on the service from my previous GMs I would buy another, but I'm as disgusted with the bailout as anyone. I could have accepted (though not supported) some of it if they didn't screw over the bond holders to pay of the UAW.
I hope GM stays in business, but only because we'd be down to two manufacturers, Ford and Tesla, if they go out of business. For that reason, I won't try to talk anyone out of buying a GM if they want one.
You are missing what the Chinese oligarchs are doing. They are laundering their Chinese dollars. The ruling elite receive upwards of 80% of China’s GDP. The CCP is a kleptocracy on steroids. They are currency manipulators. They make substantial loans in the billions then they foreclose, taking the property of there borrower.
Banks and the market are the financiers of China.
Of special interest is GM’s takeover by the Obama administration before turning it over the the CCP. Obama is wholly owned by the CCP as is Clinton. They tried to play with world class criminals and got owned. Pray for Trump that he may defeat the CCP.
We could also blame the businesses who shipped manufacturing out of the US, but anyone who chose price over the Made in USA label made the exact same choice, so we're all at fault.
indeed, plus they buy up thousands and thousands of USA houses directly, causing much of the homelessness due to unaffordability of shelter for American citizens
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