Are you a struggling Western company in need of capital? Have you considered offloading assets to cash-rich Chinese investors? Call XXX-XXXX NOW for more information and immediate over-the-phone price quotes. It seems we can’t get through the day without China being linked to one potential acquisition or another – a mine here, an oilfield there. Despite the fire sale taking place at GM, Chinese engine maker Weichai has said it is not in the running for GM’s auto parts unit in France. Perhaps the company is simply biding its time until Congress loses patience, ends its handouts, and GM becomes even more desperate. Don’t be too surprised if Hummer or Saab is in Beijing’s possession before the year is out. From US cars, we move on to Australian mines. Baosteel is offically not interested in taking a controlling stake in Fortescue Metals. However, China Investment Corp has held talks with the company and Hunan Valin Iron & Steel is still at the negotiating table. Apparently Valin is worried about taking on the lion’s share of Fortescue’s debt (US$3 billion and counting). The flow of rumors – and a few concrete facts – about Chinese deal-making is unlikely to stop. In addition to using the country’s foreign exchange reserves to boost domestic demand, the State Administration of Foreign Exchange plans to put some of the cash towards Chinese firms’ dreams of global expansion.