David Leggett mentions today in his blog at just-auto.com that in the midst of the horrible economic turmoil and uncertainty facing General Motors, the company has opened an auto manufacturing facility outside of St. Petersburg in Russia.
The plant opening ceremony was last week, and Russian President Dmitry Medvedev attended, so it was obviously a pretty big deal. Mr. Leggett makes the important point that despite the recent nasty rhetoric being flung between Russia and the United States, an American company has made a big investment in Russia, and Russia likes it.
With any luck, GM will come out of the downtown at least intact, and deals like this will pave the way for further opening the Russian market to American firms. Growing globally has the potential to strengthen American companies and fuel political stability but strengthening ties between nations. Let's hope the trend continues.