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General motors to export vehicles to China.(Manufacturing News)
Material Handling Product News, December, 2003
General Motors has reported they will export thousands of vehicles to China over the next few years. The deal is valued at approximately $1.3 billion and shows a relaxation of import restrictions by the Chinese government, said the automaker.
The announcement is thought to be part of a larger Chinese purchasing program designed to mitigate increased unhappiness in Congress over the widening U.S./China trade deficit. The U.S. trade deficit with China grew to a record $103 billion last year, which is the largest imbalance ever recorded with any country. The 2003 deficit is expected to be even higher.
Other import deals include Ford Motor and Daimler Chrysler AG's Chrysler Group, plus Boeing and General Electric's aircraft engines subsidiary.
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