Here is a China story with giant global implications.
Car sales in the world's largest market have been dropping for 8 straight months.
In May they plunged 22% YoY. That's a 400,000 car tank in a single month.
Chinese automakers have reacted by doubling down on exports to markets worldwide. Gotta keep the factories running.
2022: 3.1M
2023: 4.9M
2024: 5.8M
2025: 8.3M
2026: 12M (f)
Chinese cars are coming to your neighborhood, ravaging legacy automakers in Australia, the UK, Spain, Mexico and Brazil.
reuters.com/world/asia-pacif…