Carl Quintanilla: Squawk Box has been covering Warren Buffett in China and in South Korea exclusively. Our own Becky Quick making the trip. Mr. Buffett is visiting one of his factories in South Korea today. This morning, he said stocks look strong in that country but the U.S. dollar does not. He's also warning the subprime fallout will deepen over the next two years.
Before arriving in South Korea, Mr. Buffett was in Dalian, China, at another of his factories, and Becky picks up the story from there.
Becky: This is Iscar's new plant in Dalian, China. It's the first plant that Iscar (an Israeli industrial took maker owned by Berkshire Hathaway) has ever put up in China. And right now, I know, it still looks relatively empty in here. All these machines behind us, though, are brand new, state of the art machines. High technology all the way around.
And by the way, this plant was put up in just six months time. Six months. Warren Buffett says that is a record time. In fact, he says there's not another country where this plant could have been put up in just six months time.
Now a year from now, this is going to be packed. There will be machines everywhere, computers everywhere, robots everywhere that can actually move around. There are a few robots here now, but they're telling me that much fancier robots will be here in a year's time.
At that point, this place will be able to knock out a couple hundred million dollars worth of product a year. This is a rapid expansion.