Comment

Auto Industry Bankruptcy Watch

201
Guanxi885/28/2009 1:11:02 pm PDT

re: #192 FurryOldGuyJeans

It was privately funded and going to have been privately run. The Chinese are becoming more Capitalist as we go Socialist.

Well, private dollars (or Yuan, in this case) don’t mean a whole hell of a lot when there is no distinction between state and society, as in China. The investors should have known that the authorities (the guys in the weird uniforms, mostly) would NEVER stand for that kind of stuff. The Party is communist, true, and is embracing a sort of authoritarian capitalist model, but they would never allow social decay and corruption to be so visible. Private money or not, they’d have shut it down and/or broken heads.