Detroit Automakers, It's Past Time To Catch Up With The Chinese
The Big Three domestic automakers reported financial results this month and, as usual, tried to put the best spin on their numbers. As General Motors Chief Executive Mary Barra wrote in her letter to shareholders, “GM is performing well.” How do you say “Yeah, right” in Chinese? One of the most important economic engines for Illinois and the rest of the Midwest is getting badly outclassed in global markets. Faced with poor sales at home, China’s automakers are cashing in seemingly everywhere outside of China. Everywhere, that is, except in the U.S. America’s Big Three automakers have become dependent on trade barriers that keep out Chinese cars. The result is a less competitive U.S. auto industry, and a U.S. population unable to buy well-made Chinese vehicles for sale at a fraction of U.S. prices elsewhere. Consumers outside the U.S. are moving on from GM, Ford and Stellantis. China is remaking the car business without them. It’s not too late to shore up this strategically important sector, which accounts for hundreds of thousands of American jobs and a significant share of
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