Booming Automobile Sector in China
China’s automobile market has grown rapidly since the country’s inclusion to the World Trade Organization in 2001. By 2009, Chinese automobile market had become the world’s largest, overtaking US both in terms of sales and production. Growth has been underpinned by market liberalization and greater economic openness. Further, vast consumer base having more purchasing power, and improved road infrastructure has made China one of the most attractive destinations for major market players. In fact, despite economic slowdown in the country,...
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