Understanding China, One Blog at a Time

An American in China

China Cant Do it Themselves But Sure is Buying Companies

Posted by w_thames_the_d on August 8, 2010

China bid to purchase Miramax, but failed, or at least that is what is suspected. They have also tried to purchase Hummer, but then pulled out. But they did purchase Volvo, which goes to show that they are cash rich. They lack innovation and home grown talent so are purchasing coimpanies to get brand name awareness because so many people are aware that typical Chinese products basically suck.
The question is how they will deal with this in the future vz if they will purchase the companies and destroy them or if they will raise their game.

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