Service Time
These Chinese Clunkers Aren't Scrapyard Material Yet
Local joint ventures are so big that foreign partners will struggle to digest them.
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There's a long-standing rule in China regarding foreign investment: Permit it only once your domestic industry is strong enough to win on its own terms.
That situation explains why, almost five years after first mooting such a change and amid simmering trade tensions with the U.S., China is finally setting a timetable for allowing greater foreign control of its automotive joint ventures.