That would have been a headline not that long ago about the Chinese. But, it is rather peculiar how the political establishments on all sides are rather quite about the all too apparent financial success of China.
Americans seem to take a bullying approach in defining their enemies. When China was recovering from the 'cultural revolution' and were at their financial nadir - they resided at the top of most un-favored nations list. Now it is another story.
Remember when Russia and China were the dreaded communists? Remember the Vietnam War? Remember Korean War? When I joined the Navy we were fighting the Chinese in Korea - now they nearly own us.
The Chinese have put a lot of effort into producing autos and have acquiring parts, here and there. Volvo was acquired in 2010 from Ford. Their latest acquisition will apparently be SAAB. "In June, Saab said two Chinese car companies, Pangda Automobile Trade Co Ltd and Zhejiang Youngman Lotus Automobil, had agreed to take a combined majority stake in the firm aimed at rescuing the struggling carmaker."
It might come as a surprise that China is the leading manufacturer of automobiles. It is #1 in the top 20 by a large margin. The US is number 3 after Japan. But the Chinese are not limited to automobile manufacturing acquisitions. Do a Google search for "Chinese acquisitions."
You might read this Motor Trend April's fools joke that rings so very true.