I have nothing against the Chinese. I know a little of big companies buying small one but about a Chinese company buying an Italian tire brand Pirelli is a good thing and a bad one.
I am not a business type reader nor knows about stocks or bull season what ever they say on the business side. But Chinese practices are not good to the economies of some countries. One practice they do, especially in construction projects, they will import Chinese workers from, guess where else, mainland China. Reported in the news, it happened here in the Philippines Southern Luzon in Batangas.
I thought those movies of Chinese immigrants stored on container vans are fictions but they have ways of illegally sending people from their homeland and work as cheap labors on plants around the globe. Sometime ago, I read in NewYork TImes, Italian shoes are being replaced by fake Chinese copies. Well it killed the shoe industry here Marikina in the Philippines. We have plenty of chinese fake branded shoes here and its not a secret since its sold in the open.
My colleague attended a product demo to test network cables and the test gadget can detect fake coppers in the network cables. The good quality ones are pure copper. The fakes are coated with copper and the core is aluminum. And guess where it come from. You guest it right. Some warehouse were raided here in Laguna, Philippines and found substandard construction materials to be used in the Yolanda/Haiyan affected areas. Yeah, same source.
If China could fake copper wires, they could also fake old maps too. China claims the whole SCS/South China Sea. But people please read history. China has no strong navy to support this. Its the reason why they were invaded by the British. The colonial powers then are Britain, France, Spain, Portugal, Germany and later the USA. From what I saw in the news, Spain do claim those area in SCS and the Philippines have names on those islets.
Going back to the Pirelli’s take over, well, it won’t be long when Chinese engineers will work there and get the technology.
I have nothing against the Chinese people. Its the quality and the clandestine invasion they do to other countries and mine.