CNN Speculates Chinese Will Buy GM

You know the press is having a field day with all the bad Detroit news.  CNN has posted a biz article on its front page discussing the possibility that Chinese entrepreneurs will buy GM.  Chris Isidore, the author, points to GM’s strong sales place in the country, and the Chinese scouting for new US properties.  Chinese businesses have already acquired the British MG and American Hummer properties, and have investments in other prominent Western auto nameplates.  The country is also the world’s number one auto market now, having surposed the US in the past year.  The article states one estimate for GM’s worth to be about $42,000,000,000.  The possibility isn’t outlandish, as the story points out, when you recall China’s effort to buy the Unocal oil firm four years ago.