18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
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China to Slap Penalty On Unnamed American Automaker for ‘Monopolistic Behavior’

Apparently, the Obama White House and republic shill, John McCain, didn’t do a good enough job cow towing to the demands of their Chinese overlords, following Trump’s outrageous behavior of receiving a phone call from the democratically elected Taiwanese President and also suggesting that the American people weren’t bound to accept the absurdity of a ‘One China’ policy.

These people would’ve been great friends of Germany in the 1930s and 40’s, perhaps ceding to a ‘One Germany’ policy — pan Europe.

In response to Trump’s lack of servile behavior, China has announced they will penalize an unnamed American automaker for price rigging.

Source: Reuters

China will soon slap a penalty on an un-named U.S. automaker for monopolistic behavior, the official China Daily newspaper reported on Wednesday, quoting a senior state planning official.

Investigators found the U.S. company had instructed distributors to fix prices starting in 2014, Zhang Handong, director of the National Development and Reform Commission’s price supervision bureau, was quoted as saying.

“We are unaware of the issue,” said Mark Truby, Ford’s chief spokesman for its Asia-Pacific operations.

GM did not immediately respond to requests for comment.

Following the Trump-Wallace interview, where he displayed an egregious level of disobedience to Chinese slavers, the White House scrambled  to appease Beijing with sweet words of surrender.

The White House on Monday insisted that Washington’s “one China” policy should not be used as a “bargaining chip” with Beijing after President-elect Donald Trump said the United States did not necessarily have to be bound by its long-standing position that Taiwan is part of China.

Signaling further resistance Trump will face in Washington if he tries to overturn a principle that has underpinned more than four decades of U.S.-China relations, Republican U.S. Senator John McCain said he personally backed the “China policy” and no one should “leap to conclusions” that the president-elect would abandon it.

“I do not respond to every comment by the president-elect because it may be reversed the next day,” McCain told Reuters when asked about Trump’s statement in an interview broadcast over the weekend.

Trump set off a diplomatic firestorm when he told Fox News: “I don’t know why we have to be bound by a ‘one China’ policy unless we make a deal with China having to do with other things, including trade.” This followed an earlier protest from China over the Republican president-elect’s decision to accept a telephone call from Taiwan President Tsai Ing-wen on Dec. 2.

After Trump’s phone conversation with Taiwan’s president, the Obama administration said senior White House aides had spoken with Chinese officials to insist that Washington’s “one China” policy remained unchanged.

Both Ford and GM have been posting record sales in China — representing their highest growth markets in the world. Sales for Ford vehicles in China have topped 1 million for 2016 — higher by 17.1% in November, or 124,113 vehicles.

Ford Explorer sales were up 73% and Ford Edge sales were higher by 21%. (source: DetroitNews)

“Ford is gaining more momentum in China each month and we are on pace for a record year in China,” Peter Fleet, vice president of marketing, sales and service for Ford Asia Pacific, said in a statement. “We are seeing increasing demand across our lineup, particularly our full family of SUVs.”

GM sales in China leaped higher by 7% in November — recording sales of 371,740 vehicles. Buick, Cadillac and Baojun are all enjoying record sales in China and have sold upwards of 3.4 million vehicles for 2016 — an increase of 8.5%. (source: GMAuthority)

“With less than a month to go, we are on track for record sales in 2016,” said GM Executive Vice President and GM China President Matt Tsien. “All recently launched products, such as the new-generation Buick GL8 and Baojun 310, have gotten off to a very good start of deliveries.”

In a bizarro world, both $F and $GM will shoot higher on this news.

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  1. peaches

    I thought China loved GM. My first car was an 82 Buick turbo regal coupe. Bought it with my lunch money. Girls loved it. Sofa for a front seat. Sofa for a back seat. Power everything. Ashtrays for every passenger. 14 MPG. 0-60 in under 10 seconds. Great car.

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  2. Marc David

    Ford stock sucks. Literally gone nowhere in 5 years. F em. And this bad news is a BTFD opportunity.

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  3. john_galt

    No Buick for them then. Let’s see who hurts more.

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  4. traderconfessions

    US. Americans love their cheap Wal-Mart and Dollar Store shit. Basically everything consumed in the US has a part manufactured in China. Even my beloved fishing tackle. Wait till grandma has to pay more for her QVC crockpot… she will be pissed. Make Prices High Again. BTW, Trump still manufacturing ties in China?

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    • john_galt

      What the point of low prices if one cannot afford to buy anything because the job one was good at is now in China?
      Further, stuff made in China is worth jackshit quality wise.

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