The Chinese hand that bailed out GM
By Li Fangfang | China Daily | Updated: 2011-12-09 08:38
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Kevin Wale says GM focuses on growing its business in China in all areas, from brands and products to local development. Xu Haifeng / for China Daily |
Not too many people would have heard of Liuzhou, a third-tier remote city in the Guangxi Zhuang autonomous region. And it is hard to imagine that SAIC-GM-Wuling, the three-way auto joint venture in the city was partly responsible for bailing out General Motors Co (GM) from bankruptcy protection in 2009.
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