Still Racing Ahead

http://www.economist.com/news/business/21573141-chinas-luxury-car-market-prizebut-not-local-firms-still-racing-ahead

This article discusses China's luxury car market and how it is not helping out local firms. This article shows that the market for such cars has grown 36% a year over the past decade. A new report from McKinsey, a consultancy, calculates that China is now the world’s second-largest market for “premium” cars. Also, it estimates that China will surpass America by 2020 to become the world’s biggest consumer. They believe the surge is due to private demand which will not benefit local firms.