China to Hummer: Too Wasteful

This is one of those stories that remind you the mirror world we currently live in. A Chinese regulator is apparently set to kibosh a domestic bid for U.S.-based, gas-guzzling, Smart-car-crushing Hummer. So much for the idea that the Chinese will cheerfully buy every bloated, pollution-producing U.S. asset.

China’s planning agency is likely to reject a Chinese company’s bid to acquire General Motors Corp.’s Hummer unit, in part because its gas-guzzling vehicles conflict with Beijing’s conservation goals, state radio reported.

More here.

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