China Looks to Detroit
People in this region are desperate for any trickle of positive investment news. From the Detroit Free Press comes a story about a partnership between the Chinese government and two Chinese firms – Capital Iron & Steel Co., and auto supplier Tempo Group – to buy Delphi's brake and transmission business in an estimated $100 million deal. Last month, another Chinese firm, Tengzhong Heavy Industrial Machinery Co., agreed to buy General Motors' Hummer brand.
How much can Chinese investment help revive Michigan's economy?