For months, troubled western carmakers have been hoping for a Chinese white knight to take failing brands off their hands.
But so far, only a small, almost unknown privately-owned heavy equipment manufacturer from the province of Sichuan has signed a deal. This is with the bankrupt General Motors to buy Hummer, a hulking symbol of conspicuous US consumption.
It is also unclear whether that deal will succeed: under scrutiny from Beijing and Washington, it could fall apart - even if Sichuan Tengzhong Heavy Industrial Machinery is able to raise sufficient funds.
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