1. Why might GM have chosen to enter China through a joint venture? What conflicts might arise with the JV partner and were sufficient actions taken to mitigate these conflicts?

2. What are the competitive consequences of China's entry into the World Trade Organization? How does it affect customer behavior? Supplier behavior? Bank lending behavior? Regulator behavior?

3. What were some of the most significant costs of the first finance? What drove the initial choices to incur these costs? Were there alternatives?

4. How would you prioritize your concerns as Newman as you approached the refinancing?

5. Why would GM want its Shanghai subsidiary to borrow funds directly from the local markets when GM might be able to get more attractive terms?

6. How should multinational firms develop a strategy for the major finance decisions for their subsidiaries? How do these decisions differ from key financial decisions at the firm level?