Remember GENERAL MOTORS? You know one of the companies which the taxpayers bailed out. Supposedly it was in America’s interest to save the auto maker so that it would create jobs and wealth in the United States.
Well, hate to say it but we’ve been bamboozled again.
The Chinese taxpayers should have bailed them out because that’s who’s benefiting from GM’s salvation. GM is building a $ 1.3 BILLION factory to manufacture Cadillacs in China.
Of course, the Company’s management says they just HAD TO build in China because otherwise China would tax them if they attempted to sell American made cars to the Chinese. You see although the American government promotes “Free” trade for the Chinese and has cut taxes and fees on Chinese goods and imports, China refuses to do a quid pro quo and extend “Free” trade to us. The Chinese government taxes U.S. goods at a 25% level.
Next time someone tells you about the benefits of free trade tell them that since beginning so-called free trade with China, 40,000 American factories have closed. The Chinese thought they’d have to buy American industry but due to the economic traitors in our Government, both Republicrat and Democan, they’ll get it for FREE!
The source for the news item, but not the opinion expressed, may be found at http://www.autoblog.com (May 8, 2013)
OLD NEWS: It was reported in 2012 that GM was considering moving its production of the new VOLT, an electric vehicle, to China. China was offering a subsidy of $ 19,000 per car produced.