Insight and investigations from our expert reporters
By Ben Berkowitz
Diplomats, consultants and analysts have plenty of questions about Chinese car maker BYD and its growth tactics, but there’s one thing no one can question: BYD shares have made a lot of people a lot of money in recent years.
Since Warren Buffett invested in the company at the depths of the financial crisis in September 2008, BYD shares are up nearly 300 percent. (And that’s after a sharp decline over the last 16 months, as the company delayed its American debut and experienced sliding sales domestically). Compare that with Ford, up about 170 percent over the same period – and Toyota, which has lost more than a fifth of its value. At one point, BYD shares were so strong that its chairman, Wang Chuanfu, was China’s richest man.
By Ben Berkovitz
Diplomacy is a complex thing, and it gets even more complicated when diplomats are trying to act as salesmen.
A series of State Department cables, obtained by WikiLeaks and provided to Reuters by a third party, demonstrates just how intertwined American political and commercial interests really are. (See special report “Weapons, frozen chicken, and the art of diplomacy“)