If General Motors believes in God, it must be thanking Him right now for China.
Mainland Chinese sales were by far the brightest spot in GM's universe last year: sales in China rose 66 per cent while US sales fell by 30 per cent. One in four GM cars is now made in China. Even those cars made in Detroit were partly designed in Shanghai.
GM managed to offload distressed assets to Chinese companies: the loss-making, environment-harming Hummer was sold to a previously unknown heavy equipment manufacturer, Sichuan Tengzhong, and Beijing Automotive (BAIC) took some Saab technology off GM's hands.
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