Awhile back, several industry executives I trust told me they believed China's government would nationalize the auto industry once it was confident it could manage automotive companies without foreign assistance.
Today, you could argue that China is on track to do just that.
Recently, we have seen huge fines levied against foreign auto manufacturers in China on rather bizarre charges that seem to be simply punitive damages expanding the government's authority over the auto industry.
Many people are convinced that when the time comes -- and it might be tomorrow, next year or in a decade -- foreign companies will be nationalized.
It might be one at a time, or it could be all at once.