China Vs. America

Last year, when Chrysler Corp. became the top contender for a $1.2 billion deal to produce minivans in southern China, U.S. companies seemed to be in the driver's seat in the world's most important emerging market. But on July 12, in a gesture apparently designed to jolt Washington, Chinese President Jiang Zemin took aim at Corporate America. During a visit to Germany, he snubbed the U.S. auto maker and handed rival Daimler Benz the project to make 60,000 minivans and 100,000 engines.

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