Gov. Rick Snyder to Chinese journalists: Detroit's bankruptcy is a positive

[n2doc]

SHANGHAI — Much like the rest of the world, Chinese people view Detroit's bankruptcy filing as a bad thing, but Gov. Rick Snyder hopes to convince them it's actually a positive move.

Concerned that a negative perception could hurt the state's chances of attracting Chinese investment, Snyder is pushing the message that Detroit's comeback is already underway and that bankruptcy should alleviate one of the last obstacles to further improvement.

He spoke with several Chinese journalists in Shanghai and plans to do the same in Beijing this week during his trade and investment mission to China and Japan.

"You can tell there's a real sense that they viewed it as a negative coming into the meeting, and that's what I expected when we were coming over here, and that's in fact why we did some work," Snyder told MLive's Melissa Anders.

more

http://www.mlive.com/business/index.ssf/2013/09/detroit_bankruptcy_snyder_chin.html#incart_river_default

[wilt the stilt]

1. just like the car companies going bankrupt would be a positive

NO ONE would have bought a car from a company who went bankrupt. I know I wouldn't trust the long term support I might have received. Other countries are not going to invest in a city that might be paying pennies on the dollar to creditors.

[n2doc]

2. Well, it would have been a positive...for China n/t