"Carmakers Profiting From Loans Not Cars: The Action Is In Asia," by Danny Hakim, New York Times, 22 July, p. C1.

"China's Buick Infatuation: The Stodgy American Auto Is a Prerevolutionary Icon For Booming Middle Class," by Peter Wonacott, Wall Street Journal, 22 July, p. B1.

U.S. carmakers make more money off loans than actually selling cars, a trick they taught the Japanese automakers. Not surprisingly, where Detroit is making the most money on loans right now in terms of annual percentage growth is in Asia, where lo and behold, their products seem to appeal just fine to the rising middle class in China.

So add Detroit automakers to the list of multinational corporations whose boats are being lifted by the rising tide that is China.

But don't tell Michael Moore there might be more jobs for autoworkers in Michigan if only China is able to keep accessing Persian Gulf oil at reasonable rates because it would spoil his conspiratorial view of world history.