Word: carlies
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...middle manager at a state-owned steel company, Zhang has no worries about his job or China's economy. "Things are still pretty good," he says. "I have no problem now affording one of these," nodding toward the array of gleaming new Buicks nearby. (Read "China's Booming Car Market Shifts into Reverse...
...second quarter and will now probably expand 8% or more this year. Evidence of increasing momentum appears almost every day. Factory production has begun to edge up, in part because Chinese consumers continue to spend money at a healthy pace. Auto sales, helped significantly by government subsidies for small-car purchases, hit an all-time record in April and will easily surpass those in the U.S. this year. Overall, retail sales in China this year are up 16%. (Read "Is China's Economy Strong Enough To Save the World...
...Friday night police shot dead two militants, Aher Setiawan and Eko Joko Sarjono, in a Jakarta suburb. Police said the men, believed to be Top's accomplices, were making a car bomb with 500 kg of explosives to be used on the President's home in Cikeas, outside of Jakarta. Now, with Top's apparent death, Indonesians can hope that such terror plots will be the exception rather than the rule...
...probably too late for Germany to do anything about its black market in clunkers. The abuse could have been prevented if lawmakers had also created a control system to track each car from the point of hand over to the scrap heap. And the police could have prosecuted dealers who sell the cars instead of scrapping them if lawmakers had made it a crime. Instead, the hands of the police are tied, and as Germany's cash-for-clunkers program runs its course - it's limited to 2 million cars - public interest in cases of abuse will likely fade...
...Soon, though, the debate will get back to the plans' central flaw. From Berlin to Baltimore, government subsidies to boost car manufacturers hit by the recession have been a huge short-term success. But where will the consumers come from when the government aid runs out? "These scrapping schemes bring forward sales that would have occurred later," says Tim Urquhart, automotive analyst at IHS Global Insight in London. "They are just deferring the pain...