The illusion that we get it cars cheap is an illusion here is why. I personally dislike debt, as a result I dont finance cars. I buy it straight out. In The US there are many people driving car that are worth more than their annual salary, how are they able to get fancy car on a annual income thats a lot less, easy. The US hands out easy credit. Many US are i debt not understanding that they actually owe more than what the value of the car is bc they now added banking fees and charges on top of that and special insurance for the banks.
So a large chunck of the nation lives on credit. And it extends to every sector not just cars. Wait for the big one, when student loan debt crisis hits...This will make the housing crisis look like a cakewalk.
As for China, China sees the writting on the walls, and are shifting their currency reserves gradually to euros. They are also promoting their citiziens to save and buy gold. So China wanst to make sure they have assets on hand. Contrast to the US where our GDP is based on spending. IfmAmericans as a whole were to start saving, out economy would collapse, bc we create a situation we deficit spending is a must, but unfortunately it relies heavily on borrowed money. Again what will happen on the .day China says sorry your credit is no good. Thats why im left speechless when I hear US politicians say the fundamentals of the economy are strong, when its not, the fundamental of our economy is based on borrowing money, taxing more and spending more. or when politicians promote "growth" , when a politician in the US says growth its code for more spending, which means more debt.
I agree many in the .States dont care, bc they can still get stuff "cheap" but watch everyone scream how could this have happened? when the sh!t hits the fan, and the US admitts its insolvent.