As for the UAW pension fund investing in Chinese autos, WHO do you think is the number one auto maker in China? ...
That's a no brainer, at least I think it is. Government Motors is China's biggest auto coroperative.
However, the fact that coolie labor is what is keeping Government Motor's head above water at the moment doesn't seem to squeeze much juice with many of the UAW's rank and file. I am always hearing ban Chinese imports from many UAW types.
In the past California asked for and got racists laws to ban Chinese workers from these shores. The whole country now seems to want to prevent the Chinese from earning a living by working in their own land. Many workers here benefit from the fact that the GM workers in China underwrite or subsidise the UAW by GM's Chinese profits ending up in Detroit banks so the profits earned by Chinamen can be payed out to us greedy Americans.
While this is not the whole story, I think that it is a fair synopsis. The trouble is that this is not a sustainable path for the long term survival of either Government Motors, or the UAW. Things will have to change and change drastically. Since Halloween is almost here I think it is fair to say that GM, the UAW, and the President are all three whistling past the auto company grave yard. I BTW don't want to see this happen, but I feel like the poor soul in the crow's nest on the Titanic, screaming warning after warning into the ship's telegraph while the greatest ship in history rushes forward to meet her doom without changing course.
Oh, and on the day that Government Motors got it's bailout, they opened a profitable factory in.... RUSSIA
of all places for crying out loud.