China has surpassed the US for the first time as the largest buyer of cars from Japan. Nissan reported a leap in sales in March to the Middle Kingdom of 29% YOY. The cause is a $550 billion Chinese emergency economic stimulus package that among other things cut taxes on new car purchases by 50%. China is facing the same dilemma as the US in its recovery efforts. When you spend this much money, the beneficial effects spill outside your own borders, inundating the world.
China Tops US as Biggest Japanese Car Buyer
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