There’s no question that the big “winner” in the global financial crisis has been China. While for the past two years developed economies have been scrambling to keep afloat China has taken a nuanced approach to achieving its economic and political goals.

China has used depressed commodities prices to stock up on long-term supplies of raw materials such as oil, copper, and iron.  And it’s used structural weakness in the U.S. financial system as justification for replacing the dollar as the world’s main reserve currency.

Now, the Red Dragon is looking to make headway on the highway by winning global market share in the automotive market while U.S. heavyweights spin out.

“We aren’t afraid of the financial crisis,” Zhou Fuquan, vice president of Geely Automobile Holdings Ltd. (PINK: GELYF), told Bloomberg News. “On the contrary, we hope it will penetrate even further as

Asia is poised to become the “new” Detroit.

Here in the United States, at a cost of a mere $3 billion, the “Cash-for-Clunkers” program appears to have given new hope to the U.S. auto industry.

But that new hope is destined to be short-lived.

It’s true that - in terms of value delivered for the money invested - “Cash for Clunkers” has eclipsed every other stimulus program that has been tried. But the program has a projected lifespan of only three months, meaning it can’t reverse the powerful global forces that are destined to turn the U.S. auto market from leader to laggard on the global stage.

Thanks to the financial crisis whose impact continues to be felt, worldwide automobile demand had dropped on an overall basis since 2008.

But regional differences are already emerging.

In the United States, for instance, the benchmark seasonally adjusted annual sales rate (SAAR)

HONG KONG SPECIAL ADMINISTRATIVE REGION, People’s Republic of China – As deep as the U.S. auto industry’s financial crisis seems to be, there may actually be a fairly simple solution. Sell out to China. Nearly a decade ago, I warned that Detroit’s Big Three – General Motors Corp. [GM: 1.09, -0.06 (-5.22%)], Ford Motor Co. [F: 5.49, +0.33 (+6.40%)]and Chrysler LLC – had better learn to speak Chinese if they wanted to survive. I’ve repeated that warning many times since. Now, it appears that the idea is finally entering mainstream thought. China may well be Detroit’s lifeline. From some – chiefly those who don’t understand that Detroit has largely failed to make a passing grade in an increasingly global economy – my warnings have attracted a lot of criticism. That’s unfortunate, because by

As deep as the U.S. auto industry’s financial crisis seems to be, there may actually be a fairly simple solution. Sell out to China. Nearly a decade ago, I warned that Detroit’s Big Three – General Motors Corp. (NYSE: GM), Ford Motor Co. (NYSE: F) and Chrysler LLC – had better learn to speak Chinese if they wanted to survive.

I’ve repeated that warning many times since. Now, it appears that the idea is finally entering mainstream thought. China may well be Detroit’s lifeline. From some – chiefly those who don’t understand that Detroit has largely failed to make a passing grade in an increasingly global economy – my warnings have attracted a lot of criticism.

That’s unfortunate, because by adopting such a defensive posture, these critics have missed the real point I was making: Chinese companies would initially have no interest in taking

BEIJING, The People’s Republic of China - At a time when the rest of the global auto sales are experiencing their biggest declines in decades - and are set to drop at least 8% globally - the burgeoning China auto market may grow by 10% or more this year.

With steeply rising disposable incomes and savings rates that approach - and in some cases exceed - 35% a year, it isn’t difficult to see why the China auto market is zooming along. But what may be tough for U.S. consumers to picture - especially as they deal with rising unemployment and a nagging economic malaise - is the intensity with which domestic demand is growing here in China.

Autos are more than just transportation here. They’re a symbol of wealth and success - a sexy status symbol. One’s social position can be determined by the type of vehicle one owns and

BEIJING, The People’s Republic of China – If there’s a recession here in China, I don’t see it. Granted, I just stepped off the plane here in Beijing a few hours ago, but already the city feels much more vibrant than I expected, given the dire reports that keep appearing in the mainstream Western financial-news media. The Beijing economy appears strong.

Consider the airport. While more subdued than it was just prior to the 2008 Summer Olympic Games, it’s still humming. And the airplane on the flight over here was packed, with nearly a vacant seat in sight. Of course, having my luggage actually beat me to the carousel was a big plus – just like it always is. There’s a policy that all bags are unloaded in 12 minutes.

From my hotel room in the Beijing Central Business District, I can see