A123's Chinese Bailout Deal Draws Critics On Capital Hill
As expected, some lawmakers are decrying A123's rescue by Chinese auto tech giant Wanxiang as a giveaway to a "foreign adversary." Since when did China become an enemy of the United States? Since it started bailing out U.S. green technology companies that have backing from the Obama administration, that's when.
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#1 Aug 14, 2012
"Such would appear to be the logic of U.S. Rep. Cliff Stearns, R-Fla., who came out strongly last week against the proposed $450 million deal that would give Chinese auto parts giant Wanxiang Group an ownership stake in the financially struggling -- and federally funded -- lithium-ion battery maker A123 Systems."
Yeah, Blah, blah, blah........ This same crap happened in 2004 when IBM sold their PC manufacturing business to Lenovo. Many in the Federal bureauracy had the same reservations of that sell also. The Treasury department investigated CIFUS and we see how that went, now people are talking Lenovo, no one seems to remember the IBM Think Pad. Industry and manufacturing was the first to go, now intellectual property is flying out of this country at an alarming rate. Que the crickets, the last one out of the country, turn off the Chinese manufactured LED lights.
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