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BEIJING LOOKS TO AMASS DISTRESSED CAR ASSETS

A quarter of a century ago, China set out to create a modern car industry, almost from scratch. It seemed a daunting prospect.

But now the global financial crisis has catapulted China into poll position as the world's largest car market, and the financial strength of China's carmakers has made them bidders of last resort for some of the western world's favourite distressed car assets.

Is China's car industry at a turning point, poised to launch out on the great global venture Beijing has always dreamt of?

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