Every day, China looks more and more like the US. More consumption, more pollution, more inflation, more litigation. But now we’re suddenly seeing a role reversal: As debt-saddled Americans look to conserve energy by riding bikes more, China is buying our Hummers (FT):
Even though GM does not officially sell Hummers in China, a booming grey market has developed. In Beijing alone, more than 15 car dealers are selling the tank-like vehicles to China’s army of new car-buyers.
Of course, emissions and fuel economy standards for cars are still higher in China than they are in the US. And our 300 million citizens still use twice as much oil per day as India and China’s 2.5 billion combined.