But Obama is China's friend. The rumor is that the Chinese will seek to purchase a very large stake in the revamped GM when it goes public, at bargain basement prices, sometime after the November elections.
http://www.dailymotion.com/video/x2a7gh_lou-dobbs-china-manufacture-in-mexi_news
Lou Dobbs China Manufacture in Mexico NAFTA pay no taxes
SAIC, GM’s joint venture partner in China is expected to take a small stake in GM (1% or so) during the IPO to show support for one of its important partners is China.