Emerging Markets - China Motors to World No1
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A significant stage in the rapid growth of the Chinese economy was reached at the end of 2009. Latest statistics suggest that China has overtaken the US and become the world’s largest manufacturer of cars…
Lots of good background here in an article in the Guardian
The rapid decline of the US car industry over recent years (caused by structural uncompetitiveness and the recession) can be compared with the equally rapid growth of the Chinese market. Public subsidy of car ownership in the China, growing middle class incomes and infrastructure investment in the road networks are some of the main causes of China’s growth. A couple of charts below help illustrate just how quickly things have moved in China:
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