The MG is back
Except that it is now coming from China. Next week Nanjing Auto will start making the MG7, a sedan, and the MGTF, a convertible. And MG is not the only well-known Western brand that is now owned by China. Lenovo now makes and markets IBM’s ThinkPad. Other well-known companies that are now owned by Chinese companies include Benelli, the oldest motorcycle company in Italy; Schiess, a 140-year-old German tool maker; furniture companies including Universal, Craftmaster and Legacy Classic; auto parts manufacturers including Schiller, Universal Automotive, Rockford Powertrain. And the list goes on.
It’s all part of a strategy to buy established companies that are down on their luck. It gives the new owners instant brand recognition. Not a bad strategy when you have the foreign exchange needed to execute it.
Another riot in China’s countryside
This was a big one, involving 20,000 people who were upset when a new owner of the bus system doubled the fares. The army and 1000 policemen were needed to quell the disturbance, which was just one of the two hundred or so that occur every day.
Private property in Communist China?
Speculation is rife that China will pass its first law to explicitly protect private property.
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