A Chinese stake in GM? Bravo!

The drumbeat in the blogosphere began about a millisecond after the news broke on Monday that Shanghai Automotive Industrial Corp. was considering buying a piece of General Motors when the US Treasury Department floats its shares in an IPO sometime later this year. “The U.S. government should block such a deal from ever occurring,” wrote one outraged commentator at Yahoo News. “Major U.S. companies like GM should be owned by American investors, not by any company run by a foreign government; particularly a foreign government that is hostile toward the U.S. This deal would jeopardize U.S. national security and should be rejected.”

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