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Headquartered in Sweden, but owned by China, Volvo plans to expand production in the United States. (Jonas Ekstromer/AP)

Chinese investment in the global auto industry is accelerating, with the number of Chinese acquisitions of foreign auto companies and parts suppliers on pace to double this year from its 2017 rate, the Wall Street Journal reports.

Two recent investments in the American auto industry by Chinese firms include Geely Auto's planned $500 million Volvo plant in in Ridgeville S.C., which it says will support 2,000 jobs, and Fuyao Glass Industry's recent acquisition of a shuttered GM plant in Moraine, Ohio, that will employ 2,500.

Why it matters: China is generally cracking down on foreign investment these days, in an attempt to keep Chinese money in the domestic economy, where it will support the value of China's currency, the renminbi. But the government is making an exception for the auto industry, underscoring what China sees as its need to be a player in the global auto industry. This isn't bad news for U.S. workers, as Chinese money will support American jobs.

Go deeper

59 mins ago - Health

CDC panel: COVID vaccines should go to health workers, long-term care residents first

Hospital staff work in the COVID-19 intensive care unit in Houston. Photo: Go Nakamura via Getty

Health-care workers and nursing home residents should be at the front of the line to get coronavirus vaccines in the United States once they’re cleared and available for public use, an independent CDC panel recommended in a 13-1 emergency vote on Tuesday, per CNBC.

Why it matters: Recent developments in COVID-19 vaccines have accelerated the timeline for distribution as vaccines developed by Pfizer and Moderna undergo the federal approval process. States are preparing to begin distributing as soon as two weeks from now.

Obama: Broad slogans like "defund the police" lose people

Snapchat.

Former President Barack Obama told Peter Hamby on the Snapchat original political show "Good Luck America" that "snappy" slogans such as "defund the police" can alienate people, making the statements less effective than intended.

What he's saying: "You lost a big audience the minute you say it, which makes it a lot less likely that you're actually going to get the changes you want done," Obama told Hamby in an interview that will air Wednesday morning at 6 a.m. EST on Snapchat.

Nasdaq's ultimatum

Photo: Kelly Sullivan/Getty Images

New diversity and inclusion rules are on the table for some of America's most powerful corporations, courtesy of one of its most powerful stock exchanges.

What's new: Nasdaq is threatening to delist companies that won't move toward having at least one woman and at least one underrepresented minority or LGBTQ person on their corporate boards.