Oh, the irony...
What's there to inquire? Save yourselves the money (you need it...read on).It's a crisis of confidence unlike anything America has felt in a generation. Residents of tiny Newton, Iowa, wake up to the distressing news that a Chinese firm - What's it called? Haier? That's Chinese? - wants to buy their biggest employer, the famed but foundering Maytag appliance company. Two days later, out of nowhere, a massive, government-owned Chinese oil company muscles into the bidding for America's Unocal. The very next day a ship in Xinsha, China, loads the first Chinese-made cars bound for the West, where they'll compete with the products of Detroit's struggling old giants.
All in one week. And only two months earlier a Chinese company most Americans had never heard of took over the personal computer business formerly owned - and mismanaged into billions of dollars of losses - by the great IBM.
- Geoffrey Colvin, Can Americans Compete?
Fortune Magazine, July 25, 2005
P.S. Mark, if you actually friggin' took my room in the house I'm going to kick your ass.
posted by jessica @ 11:52 PM
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