This is a watershed in the development of the auto industry in China. The Chinese formed joint ventures for one purpose: to learn how to do it themselves one day. That day is here.

I'm very proud of the auto industry in Michigan.

None of the global joint ventures have been able to execute.

Chinese productivity is the highest in the world but the way they do it is by borrowing the technology from abroad, either by joint ventures or other means.

Things are going great for us. The auto industry has been going through some tough times. GM has been trimming a lot of fat - something they should have done a long time ago. But we are actually growing and always looking for dedicated hard- working people to hire.

What I've said repeatedly is, 'I think the auto industry is a very important industry.'