Sunday, July 02, 2006

Capitalist Roaders

Capitalist Roaders - New York Times: "The figures behind China's car boom are stunning. Total miles of highway in the country: at least 23,000, more than double what existed in 2001, and second now only to the United States. Number of passenger cars on the road: about 6 million in 2000 and about 20 million today. Car sales are up 54 percent in the first three months of 2006, compared with the same period a year ago; every day, 1,000 new cars (and 500 used ones) are sold in Beijing. The astronomic growth of China's car-manufacturing industry will soon hit home for Americans and Europeans as dirt-cheap Chinese automobiles start showing up for sale here over the next two or three years. (Think basic passenger car for $10,000, luxury S.U.V. for $19,000.)"

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