Monday, August 16, 2010

China's Economy is #2 with a Bullet

Now it's official - as official as these things get, anyway. China now has the second largest economy in the world. China blew the doors off Japan and is on track to catch the USA for the #1 spot in about a decade or so.

China is already the world's largest car market. Going into 2006, China's car market was less than half that of the United States. In the Great Recession of 2009, China passed the US in car sales for the first time. The car market in China may be double the car market in the US within a couple years. Chinese sales are the big reason why General Motors has held on to its #1 global car maker position over Toyota. GM is much stronger than Toyota in China.

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