As Ford Lands In China’s Crosshairs, Corporate America Holds Its Breath
Wednesday wasn't devoid of trade escalations, just in case you missed the memo.
A day after rallying alongside other auto shares, Ford fell by more than 1% on Wednesday, after China fined the company's Chinese joint venture $23.6 million ostensibly due to antitrust concerns.
Changan Ford, China contends, has been busy "restricting retailers' sales prices" in a city (Chongqing) the vast majority of Americans have never heard of and couldn't pronounce if their lives depended on it.
These pric
Chongqing – used to be spelled Chunking – you know, like the chow mein most Americans considered Chinese cuisine when I was growing up in the Fifties lol – thank goodness we in Ky finally got some REAL Chinese restaurants down here in the Sixties/Seventies…
Chongqing, 30 millions inhabitants. Got some bad press a couple of years ago due to corruption. A Brit was murdered there as the time and the wife of the local communist party chief got a death sentence for this crime. I don’t know whether she was actually executed. It is not really a city, but very impressive, far from the coast.
well there you go.