To boost consumer spending and revive China’s struggling economy, Beijing is targeting the used car market—a step, to be sure, but far less than what is needed.
A sales representative waiting for customers in a luxury car showroom in Beijing on Jan. 22, 2019. Greg Baker/AFP via Getty Images
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Commentary
China’s commerce ministry has turned to the used car market to boost consumer spending and, presumably, get the economy back on track.
Milton Ezrati is a contributing editor at The National Interest, an affiliate of the Center for the Study of Human Capital at the University at Buffalo (SUNY), and chief economist for Vested, a New York-based communications firm. Before joining Vested, he served as chief market strategist and economist for Lord, Abbett & Co. He also writes frequently for City Journal and blogs regularly for Forbes. His latest book is “Thirty Tomorrows: The Next Three Decades of Globalization, Demographics, and How We Will Live.”
