Weak Dollar Fuels China's Buying Spree Of U.S. Firms - washingtonpost.com:
"SHANGHAI -- From his posh office in a coastal city in eastern China, millionaire Zhou Jiaru oversees more than 100 workers at an auto parts refurbishing factory he purchased in a struggling manufacturing town on the other side of the world.
Zhou's new company is in Spartanburg, S.C.
The Chinese entrepreneur bought it from Richard Lovely, a 56-year-old industrial engineer and mechanic who says his business was in dire straits because of competition from abroad.
Zhou's 85 percent stake in the company now known as GSP North America is one example of how the weak dollar and weakening U.S. economy have made the United States a bargain for overseas companies shopping for investments."
Monday, January 28, 2008
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