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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: KyrosL who wrote (75891)	12/17/2006 6:09:51 PM
From: GST	Respond to of 110194

It is now three years old, but let me pass on this remark. I met the country manager for BMW in China in 2003. I asked how sales were doing in China. He said great. He went on to say that BMWs global business plan called for most all of its growth to come from China. I asked how that was possible. His response was the following: 3% of the Chinese population today can afford to buy a BMW according to our marketing studies -- for cash. That is 50 million people. Find 50 million people anywhere else in the world that can afford to pay cash for a BMW. Today of course the number would be many millions higher as the Chinese economy has grown by over 30% since 2003.