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Gold/Mining/Energy : Big Dog's Boom Boom Room
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To: XoFruitCake who wrote (102068)6/4/2008 10:23:24 AM
From: CommanderCricket  Read Replies (1) of 206179
 
Fruitcake,

Many miss the story in China regarding personal vehicles as it is very different there than it is here.

First off, a large majority Chinese pay cash for their cars.

Secondly, in the major cities such as Shanghai and Beijing, the yearly license tags go for $3k - $5k a year.

Does anyone really think a couple of dollars one way or another for a gallon of gasoline makes any difference?

The rich are buying the cars not the average working "Joe".

The problem for us is there are millions of newly wealthy Chinese who can pay the above and not blink.
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