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24
Nov

Chinese move to buy second Swedish automaker.

Since all Chinese companies are owned by the government they have virtually unlimited capital. Chinese are buying up minerals rights and companies all over the world. They are are even buying up all the mineral rights in Afghanistan by outbidding American companies.

Volvo was sold to a Chinese company by the Ford on January 1st, 2010.

Two Chinese automakers are trying to buy Saab. The deal is being held up by GM, a former owner of Saab. GM objects because some models of Saab still uses GM powertrains and components under license. GM says it will cancel all licenses if the company is sold to China.