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China Tops US as Biggest Japanese Car Buyer

|Includes: AAXJ, DNL, JEQ, JOF, Nissan Motor Co., Ltd. ADR (NSANY)

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.