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China's Korean Car Wreck
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China's Korean Car Wreck

Our Correspondent
Feb 23, 2009
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China's Korean Car Wreck
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At a time when China is seeking ways to use its vast foreign exchange reserves to help its fledgling multinationals go abroad, its recent US$500 million disaster with the ill-starred Ssangyong Auto , Korea's fourth-largest automaker, is a cautionary tale of nightmare proportions.

Shangai Auto Industry Corp, known universally as SAIC, acquired 48.82 perce…

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