My tax dollars are hard at work. In China!

hounddog · Post by **hounddog** » Thu Nov 29, 2012 10:20 am

By KELVIN CHAN AP Business Writer
HONG KONG November 29, 2012 (AP)

General Motors Co. and its joint venture partners in China say they will spend 6.6 billion yuan ($1 billion) to build a third car plant to keep up with demand for vehicles in the world's biggest auto market.

The SAIC-GM-Wuling venture said the first phase of the factory will open in 2015.

The plant will be capable of turning out 400,000 vehicles and engines a year. It will help the joint venture reach its goal of producing 2 million vehicles a year in China by 2015. The company said Wednesday it wouldn't decide which models to make until closer to the start of production.

The new factory will be in Chongqing city in central Sichuan province. The venture's other two plants are located in Liuzhou in southern Guangxi region and Qingdao, on China's northeastern coast.

China has been the world's biggest auto market by vehicles sold since 2009, when it surpassed the United States. Some 18.5 million vehicles were sold in China last year and automakers expect the number to rise to 30 million by 2020. Foreign automakers have been expanding in China to offset flat or declining growth at home.

But slowing sales growth in China is prompting global automakers to look for new ways to tap the faster-growing low end of the market in smaller cities and the countryside.

SAIC-GM-Wuling is benefiting as rising incomes in those areas drive demand for the mini-trucks and microvans that it's focused on making. The venture has sold 1.31 million vehicles in China so far this year, compared with 1.28 million for all of 2011.

The joint venture, which also makes cars under GM's only-in-China discount line Baojun, last week opened a $1.3 billion factory at its Lizhou facility to make cars for that brand.

Shanghai-based SAIC Motor Corp. owns 50.1 percent of SAIC-GM-Wuling, while GM China owns 44 percent and Liuzhou-based Wuling Motors owns 5.9 percent.

The joint venture is one of several GM has in China, where foreign carmakers are required to team up with local partners. The company's Chinese brands include Buick, Cadillac, Chevrolet and Opel as well as Jiefang and Wuling.

————

Online: www.gmchina.com

Thank you Mr. President!!!!!!!!

hounddog
Jim Umbarger

S.R.Patch · Post by **S.R.Patch** » Thu Nov 29, 2012 2:52 pm

Jim,
What this has to do with your tax dollars is that they won't be needed to support GM and most likely, those shares of GM stock owned by your tax dollars will rise in value and can be sold at a profit to the Government.... Now how the Gov. will utilize those profits

China has been the world's biggest auto market by vehicles sold since 2009, when it surpassed the United States. Some 18.5 million vehicles were sold in China last year and automakers expect the number to rise to 30 million by 2020. Foreign automakers have been expanding in China to offset flat or declining growth at home.

Thank you Mr. President!!!!!!!!

hounddog
Jim Umbarger

Indeed!!!

hounddog · Post by **hounddog** » Thu Nov 29, 2012 4:08 pm

Patch, my point was why not build those autos in this country and send them over seas. The way I see it is we are only lining China's pockets. Just a matter of time before we are owned by China. This country has gone to hell in a hand basket. If it's not the lantinos it's the chinese, japanese, Europeans, and what other countries that want to take work away from AMERICANS.
If the Prez can bail GM out with my money then I think I have a say so in this matter and that is bring our darn jobs home.
BTW I was being sarcastic with the remark about your Prez.

hounddog
Jim Umbarger

Newt · Post by **Newt** » Thu Nov 29, 2012 7:51 pm

Patch GM should pay back the taxpayers before building new plants in foreign countries. I wonder if they are building non polluting automobiles in China.
Qurious why the Green Energy people never seem to get upset with China.

Pine Mt Beagles · Post by **Pine Mt Beagles** » Thu Nov 29, 2012 8:56 pm

THE UNITED STATES-should build road's and bridges and other infrastructure in the United States,badly needed before doing the same in other countries.

Chuck Prather · Post by **Chuck Prather** » Fri Nov 30, 2012 6:01 pm

GM and China making $$$$$ with our tax dollars with the gift from the Muslim Santa Clause! Lol

Pine Mt Beagles · Post by **Pine Mt Beagles** » Fri Nov 30, 2012 6:14 pm

Re: My tax dollars are hard at work. In China!
by Chuck Prather » Sat Dec 01, 2012 11:01 am

GM and China making $$$$$ with our tax dollars with the gift from the Muslim Santa Clause! Lol
-
-so Chucky boy

It's ok for China to make money off your taxes as long as a Republican, is in charge.

The Bush --Santa Clause gave Trillion's to the elite.

S.R.Patch · Post by **S.R.Patch** » Fri Nov 30, 2012 6:35 pm

Jim,
Gov. can't tell private business where to make an sell their product, otherwise we'd be sending McD"happy meals" by boat to China...

Besides business gains the favor of a lower tax rate in other Countries, you don't want to force them to pay higher taxes and shipping cost. but there is a risk in doing business away from the homeland,.. when Chow Ming or Chavez says, "It's now mine"... and of course you have another whole new organization of corruption and crime to deal with.

I was trying to point out that these cars will be made by Chinese for Chinese under the GM Co. it will benefit and the money we're out for the bailout will be repaid at a profit by the stock value increase. GM will still labor along here, but this is what the global market that business wants has got us. Think of it as a doughnut shaped balloon, when one area of the balloon expands, it causes another area of the balloon the shrink because of the limited air available (capital). China has been expanding..., before them, we were in the bubble.... business likes to be where air is plenty... jmho

I knew you'd like the play on the prez comment...

j/k

S.R.Patch · Post by **S.R.Patch** » Fri Nov 30, 2012 6:49 pm

Newt wrote:Patch GM should pay back the taxpayers before building new plants in foreign countries. I wonder if they are building non polluting automobiles in China.
Qurious why the Green Energy people never seem to get upset with China.

They did payback the money but we also got stuck with alot of GM stock that hopefully we'll be able to cash out on with a profit from their expanding business overseas.
I don't think China is open to greenies but the world counsel on climate control is pushing for them to regulate their emissions and I think they've seen and are seeing the effect of pollution and acid rains on their Buddha and other religious sculptures exposed to the elements. They were buying a lot of coal before but now they will probably get into the competition for cleaner burning natural gas along with everyone else.
I do wonder what it will be like to be able to afford natural gas for home heating once all business jumps onboard with huge demand for the same product...

beaglehandler · Post by **beaglehandler** » Fri Nov 30, 2012 8:17 pm

The company I work just sent the President and VP to China to let them know we are taking some of the work we gave them back. That is a good thing. This is what I don't understand. We get crates of parts from China that we use to make, pay people to do 100% inspection on the parts, throw 70% of the parts in the dumpster and hired a truck driver and his only job is to police all three plants to rid them of any evidence of parts coming from China. I don't understand how we make any profit on China parts with the cost of the parts, shipping, then in house labor cost, then add in scrap and what is the profit margin. I am so tired of hearing how everything is Obama's fault or the unions fault. If people would boycott Walmart and every other place that sells China this and that and start supporting the small business owner it would make a difference. How many have called GM, Ford or Chrysler and asked why part of the vehicle they drive was made in Mexico, Thailand or where ever. I did and promised them I would be calling back. I would love to have a Browning BPS shotgun but won't buy one because it is made in Japan. Everyone needs to stop pointing fingers and take a look in the mirror and ask that person what can I do. It would make a big difference if more did just that. By the way I have not and will not vote for a presidential candidate until someone runs that is worthy of the job. Had John McCain not had the pig with lipstick as a running mate I would have voted for him.

Pine Mt Beagles · Post by **Pine Mt Beagles** » Fri Nov 30, 2012 10:26 pm

Exceptional post ,

But ,it makes to much sense for most.

weekendbeagler · Post by **weekendbeagler** » Sun Dec 02, 2012 7:20 am

...............beaglehandler wrote, " HAD JOHN McCAIN NOT HAD THE PIG WITH LIPSTICK AS A RUNNING MATE I WOULD HAVE VOTED FOR HIM" .........First of all the only reason McCain had a chance to win was the great SARA PALIN. Todd and Sara Palin are some of the most honest, down to earth people, genuine, people you will ever meet. I met both of them in the 08 campaign.............For you to take a cheap shot at her is pathetic...........From now on you will be known as PIGBOY.

likeemfast · Post by **likeemfast** » Sun Dec 02, 2012 8:59 am

Well then Pigboy has a great point, I WILL NOT SHOP AT WALMART!!!!!!!! I bet most of you who complain about Obama and China do tho. I personally am a IAM141 Union Worker, have never voted for a Democrat, think Obama is going to be the ruination of this country, and WILL NOT SHOP AT WALMART. The Waltons could be on fire in front of me and i would not pee on them. IMO if you shop Walmart you might as well vote Obama, they are both bad for the country.

TC · Post by TC » Sun Dec 02, 2012 10:28 am

likeemfast wrote:Well then Pigboy has a great point, I WILL NOT SHOP AT WALMART!!!!!!!! I bet most of you who complain about Obama and China do tho. I personally am a IAM141 Union Worker, have never voted for a Democrat, think Obama is going to be the ruination of this country, and WILL NOT SHOP AT WALMART. The Waltons could be on fire in front of me and i would not pee on them. IMO if you shop Walmart you might as well vote Obama, they are both bad for the country.