China Auto Sales Up 63% - GM Raises its Forecasts

[SeanBlue]

SHANGHAI — General Motors Co. said Monday demand in China is so strong that the company's annual sales may top 2 million vehicles this year — four years ahead of schedule — and could exceed 3 million by 2015.

GM China: Sales by 2015 may exceed 3M units

This is one of the few cases where American citizens can legitimately cheer for China’s economic expansion.

Beep beep

[Another Bob]

Good news for GM, but looking at the big picture can anybody else see the dark side to this?

From the linked article China will sell 17 million cars this year, that is close to one vehicle for every man, woman & child in Australia...every year.

There was another post the other day about petrol reaching pound twenty in the UK, if Chinese and Indian car production keeps rising at this massive rate it won't be long until that seems cheap.

[SeanBlue]

But the Australians are being amply rewarded: Hardly any other country profits as much from globalization. Everyone's buying up your iron ore like crazy which goes into the steel of China's new cars.

About 1.6 tonnes of iron ore and about 0.6 tonnes of coking coal is used for every ton of steel produced.

http://www.theaustralian.com.au/busi...-1225848299859