Going by the words of Daniel Ammann, President of General Motors, it is understood that the economy of China is better than what the world thinks. (Photo : Reuters)
Going by the words of Daniel Ammann, President of General Motors, it is understood that the economy of China is better than what the world thinks. Evidence, supporting his statement ,was revealed by him when he said that General Motors had a strong sales in 2015, and that the consumers were in good shape.
Mr. Ammann also revealed that China posted another record sales in 2015, which was a 5 percent increase over the previous year. He also mentioned that 3.7 million GM vehicles were sold during the year. Huge negative movements were seen in the Chinese market last week, with a large response from foreign markets, according to reports from Nano News. This had forced unveiling the new circuit breaker mechanism.
Speculations are ripe about another upcoming financial crisis, like the one in 2008, but optimism was on the lips of the GM President. It was also confirmed that the only way of economic revival would be structural reforms that would increase the capital productivity.
Ammann further said that the sales performance last year, underscores that the real economy of China is in good shape. He said that although the growth has been slower as compared to the past, there is no reason to panic, as China is still the biggest market for General Motors. Going by the words of Ammann, it is understood that the underlying demand is always there.
The president also said that there may be some imbalances here and there, particularly when a big and fast paced economy like that of China is growing. More matured type of growth is being evident, he said.
Record sales of vehicles to the tune of 445,227 shown by the joint venture partner in China, and GM Motors reiterated the words of the GM president.
