The Chinese government is doing almost anything in its power - short of prohibiting imports altogether- to give domestic production a serious advantage over U.S. car manufacturers. At the same time, however, state-owned suppliers are receiving quite large amounts of cash to acquire U.S.-based rivals.
As managing director of investment banking firm FINNEA Group, Tim Leuliette, said that last May, the Chinese government earmarked no less than U.S. $60 billion for the acquisition of American companies.
“The Chinese did that because they need access to expertise to grow their economy”, Leuliette explained. “They want to convert their trade surplus into hard assets.”
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