Re: South Korean fire sale

[Dennis R Redmond <dredmond@xxxxxxxxxxxxxxxxxx>]

On Sat, 22 Apr 2000, Louis Proyect crossposted

> New York Times, April 22, 2000
> Renault Agrees to Buy Troubled Samsung Motors
[text deleted]

Actually, a fine example of the new hegemons at work. Samsung got into the
auto biz way late, I think in 1995 or so, and has pretty limited
industrial facilities, plus debts of $5 billion. You could think of
Renault-Nissan as the mutant product of the Mizuho super-keiretsu (IBJ
plus Fuji plus Dai-ichi Kangyo) and that other keiretsu... oh, what's the
name again.. ah, of course: *France* (Renault is 44% state-owned). R-N
will take a bath, of course, but South Korea's industrial base will remain
largely intact.

Round 2 of the post-Cold War East Asian-EU slugfest goes to the EU on
points.

-- Dennis