AgentMarkets & Economy

As China grows, so do its problems

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

(This is Part 2 of a multipart series. Read Part 1, "China's growth has lessons for U.S."; Part 3, "China at forefront of environmentalism?" and Part 4, "China takes technology to next level.") Americans are no doubt getting tired of hearing how well things are going for China. Having painted much the same picture in my last report from Suzhou -- my Chinese home away from home -- I thought I'd dwell on a few of China's biggest headaches for a change. Anyone arriving in a Chinese city will recognize a problem it shares with the United States: too many cars. But while the U.S. has hopefully reached a saturation point at around 1.2 cars for every licensed driver, car ownership in China is still in its infancy, with perhaps less than one in 25 Chinese owning a vehicle. Should the Chinese aspire to American levels of automotive lunacy -- and there's no reason to think they won't -- Mother Earth could potentially be hosting another billion or so p...