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Daewoo Bankruptcy Chinese cars can not afford to open the topic 2 Li Jingsheng said that the Korean auto industry policy approach is to learn from Japan. Japan believes that it is impossible for the post-developed countries to completely follow the path taken by the Western countries. There is no power to use the competition to win the survival of the fittest. It is necessary to study the laws between various sectors of the industry. To a certain extent, different industries play different roles, and they must analyze and classify them to determine their support and focus on development in a certain period. Therefore, Japan has determined that home appliances and automobiles are the focus of a period of time and it turns out that they have succeeded. In addition, this set of industrial economic theory proposed by Japan is also called industrial economics. It itself also includes aspects such as industrial organization and structure. It is a system, and it is not just the role of a government. China should have a sound industrial policy. Of course, studying the extent and methods of government's role is another issue. Japan and South Korea can develop today's situation in the absence of funds and resources. It should be said that industrial policies have played a role. Daewoo’s lesson is that its front is too long and the stalls are too big. China's auto industry must follow a path that focuses on benefits, and it cannot just scale up. What the Chinese auto industry lacks is the concept of the market. The future development of the industry, including reorganization, must be based on market principles. As for the bankruptcy of Daewoo, Zhang Xingye, chairman of the China Association of Automotive Engineers, thought it was expected. Even after Daewoo and Ford had initially acquired their intentions, he did not think that the acquisition could be finalized, which proved his judgment. Zhang Xingye believes that Daewoo’s road is not entirely wrong, but its expansion is too fast, and its own strength is not strong, relying heavily on bank loans, and catching up with the Asian financial crisis, and eventually went bankrupt. In fact, Daewoo's rapid bankruptcy was forced by the creditor's pressure on the bank. The bank believed that Daewoo was unable to repay its debts and was eager to sell it. The bidding for international auto companies was unsuccessful and bankruptcy had become "a matter of course". Daewoo's loans to the bank were all in US dollars, and the devaluation of the won during the financial crisis was very severe. The paper had been reduced to over 1200: 1, which made it necessary for Daewoo to pay an additional 50% of the loan and put itself on a heavy debt burden. . This is why Ford and GM have never been able to resolve their negotiations with Daewoo and even Ford has left. In fact, Daewoo's factories in overseas operations are still OK, but only in the future to recover the investment will be bankrupt. Therefore, for the Chinese auto industry, it is also necessary to take profit as the first priority, and investment should also be controlled. It does not necessarily mean that the bigger the spread, the better. Our current automobile production capacity is already in surplus, and investment in future joint ventures, including joint ventures, must be profitable. We should not blindly mention tens of thousands of vehicles. What is lacking in China's auto industry is the concept of the market. It used to be a matter of volume and no consideration for return on investment. This is wrong. With the premise of more than 100,000 batches, it is to increase the threshold and scare people who blindly engage in autos. As a result, people are still on the auto project, and they are all aiming at more than 100,000. This is troublesome. In the future, the state will not simply focus on a certain project, but will examine it from the perspective of the industry. For example, recently the foreign capital of Beijing Jeep Company has increased its capital, but it is people's concern to be able to profit as soon as possible. Of course, this depends on how the product quality is and how the price is. This is the case with the development of enterprises and the development of industries. Some time ago, it was very lively to discuss the formation of dozens of automobile groups. Ultimately, they had to rely on the market, and they could not use administrative orders. The reorganization of the industry must also be considered in the world. Many of our companies are joint ventures and we cannot leave the joint venture to discuss restructuring. On the contrary, these multinational corporations should be allowed to take China into account in their international strategies and bring China into the international cycle. Korean cars are not product quality is not, but the financial turnover is not working, is caused by inefficient investors. The bankruptcy of Daewoo Motor shows that the Korean auto industry lacks the ability to control assets. China's auto product quality and asset quality will not be able to do so. Daewoo Bankruptcy's warning to the Chinese auto industry is that the development of the auto industry must be fully competitive, and we must work hard on the development of technology. We must focus our attention on the scale of the company alone, and excessive intervention by the government will not work. Dr. Chen Huai, deputy director of the Development Research Center of the State Council’s Market Research Institute and an economist believes that, strictly speaking, the bankruptcy of Daewoo Automobile is not a problem for Daewoo Motor, but it is a problem for the Korean economy. He said that the Korean auto manufacturing industry has not gone bankrupt and its product competitiveness is still first class. In Asia, Japan and South Korea are the only countries that can export cars in bulk. The key is that the Korean automotive industry lacks the ability to control assets. In other words, the Korean automobile is not the product quality is not, but the financial turnover is not working, the investor is not efficient, the investor's asset portfolio has problems. Chen Huai believes that Korean cars and Chinese cars are not the same thing, because China's auto product quality and asset quality will not work. Chen Huai told reporters that the drawbacks of the Korean economy are that the government has protected and interfered with large companies, causing companies to feel free to use the cheap funds provided by the government. This does not actually increase the ability of the enterprise, but instead increases the dependence of the enterprise and makes the scale expansion become the only means of enterprise competition. Chen Huai said that Daewoo Bankruptcy's reference to the Chinese auto industry is that the development of the auto industry must be fully competitive. It is not enough to focus on the scale of the company. The government will not be able to intervene too much. We should work harder on product design, technological development and product quality. The establishment of a large consortium itself has a political purpose. Once it loses the protection of the government, its drawbacks will naturally be exposed. Daewoo Motors also has a fatal weakness, that is, its technology does not really stand still. In this way, the combined financial and financial crisis and the lack of technical competitiveness have finally led to the bankruptcy of Daewoo Motor. Looking at the Chinese auto industry, it is imperative that we must improve our own capacity for independent development. Zhao Ying, a researcher at the Institute of Industrial Economics of the Chinese Academy of Social Sciences and an expert on automotive issues, believes that Daewoo Bankruptcy is caused by over-expansion of enterprises under the support of the government and failure to act in accordance with economic laws. The establishment of a large consortium itself has a political purpose. Once it loses the protection of the government, its drawbacks will naturally be exposed. Zhao Ying said that Daewoo Automobile has a fatal weakness, that is, its technology does not really stand still. Although its technology is also good, it cannot compete with world-class big companies and compete with the top ten companies. As a result, the combined financial and financial crisis and weak technical competitiveness have finally led to the bankruptcy of Daewoo Motor. Zhao Ying believes that at present, Chinese cars and Korean cars are not yet in a class. Although the Korean auto industry has many problems, it has strong self-development ability. This is very important, but China does not. Moreover, from a higher level, Daewoo Bankruptcy is not just a problem with Daewoo Auto, but rather a problem with Daewoo Group. Daewoo Motor is just a subsidiary of Daewoo Group. Daewoo Group's financial issues must involve Daewoo Motors. Zhao Ying believes that Daewoo autos with self-development capabilities are still going bankrupt, and the difficulties Chinese cars face and the distance from the world's automobiles can be imagined. Looking at the Chinese auto industry, it is imperative
Daewoo bankruptcy Chinese car can not afford to open topic 2