Chinese auto maker planning a plant with a production capacity of 170.000 units

Friday, August 6th 2010 - 00:28 UTC

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Chinese auto-maker Chery Automobile Co. will spend 700 million US dollars on a plant in Sao Paulo, Brazil's wealthiest state, the local newspaper o Estado de S. Paulo reported in its Thursday edition. Read full article

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Forgetit87
The government needs to change its current exchange rate. We can't keep having this overvalued currency that does no good to our industries. If China is to make the damn plant, and the government doesn't change the currency's exchange rate, it will be the end of our so far successful auto industry.
Aug 06th, 2010 - 01:16 am - Link - Report abuse 0
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Nicholas
Forgetit, don't be silly,

There is nothing wrong with an overvalued currency. A strong currency is good for the people (meaning, strong purchasing power). What brazil needs to do is simple..reform the tax code what is ridiculous outdated, and if it's possible (what is difficult everywhere) cut government. You can compete with a strong currency if you do the right things.
Aug 06th, 2010 - 04:30 am - Link - Report abuse 0
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harrier61
Is that picture of the car? Should be quite cheap. Looks like you punt it along with one foot out of the door.
Aug 09th, 2010 - 06:40 pm - Link - Report abuse 0
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