New York CNN —
It wasn’t long ago that China was by far the largest and most profitable market for General Motors. While the company was hemorrhaging money in North America and Europe, and hurtling towards bankruptcy and a bailout, sales and profits from China allowed it to keep the lights on.
Now the opposite is true. GM is making record profits at home, but it’s losing enough money in China that there are questions about how much longer it can stay. At the same time, Chinese automakers have flooded their home market with exactly the sort
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