Charles said:

“catepillar is one of the few american foundry companies that benefit from the low dollar. they make a product that is in demand world wide. what a terrible thing that they open their first factory in china. soon after they’ll discover that they have a chinese rival who makes machines just like their machines.”

I have read that there was much consternation in the automobile industry after Volkswagen opened a car factory in China. Supposably most of VW’s manufacturing technology was stolen. My guess is that China will eventually crush the automobile industry by removing all of the profit margin (not that there was much left). The American automobile industry was already dying due to its failure to compete against Japan. Volkswagen’s error will cause more harm to Japan than it will to America.