China Set to Limit Automobile Purchases

In order to combat traffic jams and choking pollution, China will attempt to decrease the amount of cars in its major cities by imposing stricter limits on automobile purchases.

What's the Latest Development?


In order to combat traffic jams and choking pollution, China will attempt to decrease the amount of cars in its major cities by imposing stricter limits on automobile purchases. The country is already the world's largest market for personal vehicles. "Regulators have tried to deal with both the pollution and traffic problems by enacting vehicle lotteries in Beijing, Shanghai and two other large cities. That has limited the number of motorists who can register new vehicles to just 20,000 each month. To put that into perspective, there are 1.53 million potential buyers waiting to be chosen, according to The Associated Press."

What's the Big Idea?

Chinese regulators find themselves in a delicate situation, caught between encouraging economic growth and making city life livable for the country's citizens. "The automotive industry is one of the stars of the country's manufacturing sector and not something Beijing's bureaucrats feel they can shut off. They continue trying to limit vehicle sales in already crowded cities while encouraging growth in regions of the country that are only beginning to catch up with the economic boom along the coast." Authorities are considering a loophole for electric vehicles which would strengthen industry while limiting environmental damage. 

Photo credit: Shutterstock.com

Read it at Global Post

Related Articles
Playlists
Keep reading Show less

Five foods that increase your psychological well-being

These five main food groups are important for your brain's health and likely to boost the production of feel-good chemicals.

Mind & Brain

We all know eating “healthy” food is good for our physical health and can decrease our risk of developing diabetes, cancer, obesity and heart disease. What is not as well known is that eating healthy food is also good for our mental health and can decrease our risk of depression and anxiety.

Keep reading Show less

For the 99%, the lines are getting blurry

Infographics show the classes and anxieties in the supposedly classless U.S. economy.

What is the middle class now, anyway? (JEWEL SAMAD/AFP/Getty Images)
Politics & Current Affairs

For those of us who follow politics, we’re used to commentators referring to the President’s low approval rating as a surprise given the U.S.'s “booming” economy. This seeming disconnect, however, should really prompt us to reconsider the measurements by which we assess the health of an economy. With a robust U.S. stock market and GDP and low unemployment figures, it’s easy to see why some think all is well. But looking at real U.S. wages, which have remained stagnant—and have, thus, in effect gone down given rising costs from inflation—a very different picture emerges. For the 1%, the economy is booming. For the rest of us, it’s hard to even know where we stand. A recent study by Porch (a home-improvement company) of blue-collar vs. white-collar workers shows how traditional categories are becoming less distinct—the study references "new-collar" workers, who require technical certifications but not college degrees. And a set of recent infographics from CreditLoan capturing the thoughts of America’s middle class as defined by the Pew Research Center shows how confused we are.

Keep reading Show less