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Cash For Clunkers, a Win for China. |
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Written by Administrator
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Friday, 31 July 2009 19:31 |
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The latest in a series of U.S. Government attempts to boost the economy is becoming a windfall for China. Under the "Cash for Clunkers" program, people can trade in their older cars and receive up to $4500.00 credit towards the purchase of a new car. Good for ailing dealers, even better for scrap-starved China and Turkey. The past few years has shown a steady increase in scrap shipments to both nations, as well as to Chinese owned scrap melters in the United States. The program, while helping auto sales, is directly benefiting overseas interests.
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Last Updated on Monday, 10 August 2009 00:28 |
