March 29, 2010

What China Inc. Wants Next

Bill Powell, Fortune

Six years ago, computer maker Lenovo bought IBM's personal computer business and has struggled to manage it ever since. Now, Zhejiang Geely Holding Co., a rapidly growing Chinese automaker based in Hangzhou, about 100 miles southwest of Shanghai, has bought Volvo from Ford Motor (F, Fortune 500) for $1.8 billion. The Western press, understandably, is full of stories about how, as the Wall Street Journal puts it today, "Geely's acquisition of the Swedish brand is the latest example of how China's economic rise is reshaping large swaths of global business. Its huge market and increasingly powerful companies are playing a growing role around the world in industries ranging from cars to natural resources."

Up to a point, this is true. But only up to a point. To date, China's appetite...

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Related Topics: China, SHANGHAI, Hangzhou, Ford Motor, IBM, Lenovo, Volvo, Zhejiang Geely Holding Co., USD, computer maker

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