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What China's Stock Market Implosion Means for Oil [View article]
No kidding and SO WHAT...
If 5% of the population owns a car this year and 6% of the population is projected to own a car next year. Then you had 20% growth!!!!!! The minority of people that experienced an explosion of wealth is what created the explosion in consumer consumption - IN TERMS OF PERCENT.
The Chinese wealth effect from the stock market is the same as the American Wealth effect from the housing boo. Take it away and you take away the growth.