China Out Stimulates Obama

China has given Obama and the United States a lesson in capitalism, and from a communist regime no less. As Obama fiddles while Rome burns with his razor sharp focus on implemeting Socialism, China is using historically tried and true methods of overcoming a recession. The following article is from bloomberg.com.

China February Auto Sales Rise 25% After Tax Cuts (Update1)

March 10 (Bloomberg) — China vehicle sales surged 25 percent in February, the first gain in four months, after the government cut taxes on some models, helping the country extend its lead as the world’s largest auto market this year.

Sales of passenger cars, buses and trucks climbed to 827,600, the China Association of Automobile Manufacturers said today in Beijing. The tally in the first two months rose 2.7 percent to 1.56 million, compared with a 39 percent decline to 1.35 million in the U.S.

Also in the same article, GM, the floundering U.S. auto maker, anticipates a 5-10 percent increase in manufacturing in China this year. Amazing how productivity increases sans U.S. government interventions, taxes, laws, regulations, unions, etcetera.

GM, the biggest overseas automaker in China, raised its forecast for the nation’s market growth this year to a range of between 5 percent and 10 percent from an earlier prediction of less than 3 percent, GM Asia-Pacific President Nick Reilly, said last week.

Perhaps the Chinese have been reading up on Ronald Reagan.

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