Chinese buy control of Saab - well, they own everything else already anyway, right?

Swedish car maker Saab has been struggling for months to survive - in fact, ever since GM dumped them after the GM bankruptcy - and things are still shaky, but now there's a white knight investor to the rescue. Well, actually a Chinese knight, sort of.

Last week Chinese car company Pang Da agreed to buy a 24% stake in Saab. Now comes word that a Chinese auto builder, Zhejiang Youngman Lotus Automobile Co., as signed a deal to buy a 29.9% stake in Saab. The result? Chinese ownership of control.

Is China taking over the world by simply buying it up, piece by piece?

It took $352 million, but the two Chinese companies appear to have taken Saab over and the only thing left is for the blessing of Chinese and Swedish bureaucrats. And they don't have much choice about it since without the Chinese money Saab's doors will very likely stay closed. Still, CEO's say it will take several months before it's a "done deal."

It's all a bit too much like that commercial making the rounds about the US debt that China has also bought up.

Not only are the Chinese buying companies, they're building them here too. In Spartanburg, SC, a Chinese company is opening up a factory on land that cost only 1/4 what it would for land in Shanghai and will power it with electricity that costs 4 cents per kilowatt hour compared to 14 cents in China - without the Chinese brownouts either.

Are they are buying up the rest of the world because the world is cheaper than China? Maybe.

It's all a twisted maze of tax credits, cheap resources vs costly resources, and a lot of politics. But for unemployed and underpaid workers in places like Spartanburg, it just means jobs.

Same thing in Corpus Christi, TX where the largest-ever Chinese built factory is about to open, one billion dollars later.

It seems that the most common reaction is that of a 47 year old who had been laid off before a Chinese company bought his American employer's facility. "Just because it's a Chinese owner, they don't really care," said Scott Henderson, "They're all happy to be working 40 hours a week."

The Chinese have bought or started up at least 50 companies in the US, according to recently.

And what does it all mean? Smarter people than us will have to figure that out. Why? Because all of us are just trying to make a living day to day. But you can be sure that someone else has their eye on the long range plan - we just don't know whose plan it really is.

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Known nationwide as a leading Lemon Law attorney, Ronald L. Burdge has represented literally thousands of consumers in "lemon" lawsuits and actively co-counsels and coaches other Consumer Law attorneys. From 2005 through 2018, attorney Ronald L. Burdge has been named as the only Lemon Law Ohio Super Lawyer by Law and Politics magazine and Thomson Reuters Corp., Professional Division. Burdge restricts his practice to Lemon Law and Consumer Law cases. The Ohio Super Lawyer results are published annually in the January issue of Cincinnati Magazine. Ronald L. Burdge was named Consumer Law Trial Lawyer of the Year 2004 by the National Association of Consumer Advocates, the nation's largest organization of consumer law private and government attorneys. "Your impact on the auto industry has been magnified many times over because of the trail you blazed for others," stated NACA's Executive Director, Will Ogburn. Burdge has represented thousands of consumers in Ohio, Kentucky and elsewhere since 1978 and is a frequent lecturer to national, state and local Bar Associations and Judicial organizations. Burdge is admitted to Ohio's state and federal courts, Kentucky's state courts, and Indiana's federal courts. Other court admissions are on a "pro hac" temporary, case by cases basis.