Archive for the ‘China’ Category

China may not be as isolated as it once was, but there are still cultural differences that set the country apart. To minimize traffic accidents near schools, for example, America created a system of school zones and built a few speed bumps. China, on the other hand, has ordered children to salute every passing car on their way to and from class -- which sounds cumbersome for both students and officials, but the government says there hasn't been an accident since the program began. And hey: if it teaches manners too, as officials hope, perhaps there's something the West can learn. [NYT via KickingTires]

A couple of weeks ago, we reported that Crown -- a consortium of American investors led by former auto industry executives -- is making a play for Volvo. The group's bid for the brand is substantially lower than that of current front-runner Geely, but we pointed out that the Americans do have some advantages at the bargaining table, especially when it comes to one of Ford's biggest concerns: intellectual property. China in general, and Geely in particular, aren't known for respecting IP rights, and as negotiations move forward, we suggested that could become a sticking point.

Apparently, it has become a sticking point.

Two sources close to...

The government of China may be angling hard to unseat the U.S. as the world's dominant economic power (case in point: itsstrong support of a plan to end oil trading in U.S. dollar formats), but China's homegrown companies don't have quite as much weight to throw around. As an example, look no further than Chinese automaker Geely and its drawn-out attempt to purchase Volvo from Ford. Today, Geely faces a bidding war with a consortium of former U.S. auto executives, and although the Americans' offer isn't quite as generous as Geely's is, they do have some distinct advantages at the bargaining table.

The U.S. consortium calls itself Crown, and...