Report: CRRC’s “chief obligation is to the Chinese state”

(Source: Railway Age, November 4, 2019)

NEW YORK — “CRRC AND BEIJING’S DASH FOR GLOBAL ROLLING STOCK DOMINANCE,” a report prepared by Radarlock, which describes itself as “a research organization that uses data-driven analysis to understand techno-economic dynamics in world affairs,” says that China Railway Rolling Stock Corp. (CRRC) is an arm of the Chinese government with “indelible ties to the Chinese Communist Party” whose executives “wear dual hats as corporate and as Party leaders.” “This report underscores the fact that CRRC is controlled by the Chinese government and has made crystal clear its desire to decimate the railcar manufacturing industry in the United States and the thousands of Americans it employs,” RSI President Mike O’Malley told Railway Age.

Full story: Railway Age

Tuesday, November 5, 2019