The Rising Influence of Rising Affluence

[DewDiligence]

…for global auto makers, the Middle Kingdom is still the land of opportunity. Top executives of the world's largest auto makers spent Easter weekend at Beijing's big auto show pledging allegiance to the world's largest car market, outlining billions in new investments for factories and technical centers, and hawking new models tailored for the country's affluent young.

This year's Beijing show marked the official end of China's days as a developing market and the beginning of a new era in the world's largest car market.

It has been obvious for some time that China's major cities don't fit the developing-market label. Beijing's modern office towers, opulent hotels and all-day rush-hour traffic deliver a very passable imitation of Los Angeles, albeit with far worse smog. The Chinese capital's major thoroughfares teem with stretched Audis, BMWs and Mercedes-Benzes.

http://online.wsj.com/news/articles/SB10001424052702304788404579521510670705136

Great quote on Bejing’s mimicking of LA with worse smog, LOL.