Posts Tagged ‘contract and converge’

Contract and Converge: Hummers are a Hit in China

Thursday, October 7th, 2010

Source:  SPPI

As the West is being exhorted to contract it’s economies and give up on large automobiles, the Chinese are developing a taste for them. This is the “converge” part of the “contract and converge” policy espoused by the UN.  For more on the UN-IPCC socialist ideology of “contract and converge” — that is wealth transfer from the USA to the developing world — see:

Dr Rajendra Pachauri and the IPCC – No Fossil F ool

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Chinese millionaires love foreign luxury cars: 460.000 in seven months

“China’s imported auto market continues to flourish with sales of 460,000 in the first seven months of this year. It represents a growth rate of 150% compared with the same period of last year.

“Imported cars are no longer a poor relation of domestic cars in the Chinese market but form a sector that is developing rapidly with its own style and is more personalized to meet customers’ demands,” said Shen Jinjun, vice-president of China Automobile Dealers Association, speaking during the Imported Auto Expo Beijing 2010.

The growth rate of the foreign high-end auto brands such as Audi, Mercedes-Benz and Lexus has exceeded 100 percent – far higher than that of other imported cars. (more…)

U.S. Can’t Continue As Engine That Drives the Global Economy, Obama and Geithner Say

Tuesday, June 29th, 2010

Source: CNSNEWS

Citing the country’s trade deficit, President Barack Obama and Treasury Secretary Timothy Geithner each asserted last week that the United States cannot continue to lead the world economy.

“We said in Pittsburgh [at] the G20 that it was important for us to rebalance, in part because the U.S. economy for a long period of time was the engine of world economic growth; we were sucking in imports from all across the world financed by huge amounts of consumer debt,” Obama said Thursday during a joint press conference with Russian President Dmitry Medvedev.

“Because of the financial crisis, but also because that debt was fundamentally unsustainable, the United States is not going to be able to serve in that same capacity to that same extent,” the president added. (more…)