China is giving cash to car buyers to revive sales crushed by the pandemic The auto industry plays a crucial role in China’s economy. More than 40 million people in the country rely on the sector for jobs, either directly or indirectly. The industry generates more than $1 trillion in revenue each year, roughly 10% of China’s manufacturing output. A healthy Chinese car market is also important to the rest of the world. Global automakers like Volkswagen (VLKAF) and General Motors (GM) sell millions of cars in China — each of those companies, for example, depend on the country for… Read more »