Cash for clunkers: Nothing like using Chinese money to boost Japanese businesses.

Not that I have anything against the Chinese or Japanese — alright, I might have something against the Chinese government — but it’s absolutely hilarious that the United States government is using Chinese money (from the debt they buy) to boost sales of Japanese businesses (from the Financial Times):

The US’s cash-for-clunkers scheme, designed to bolster Detroit’s embattled carmakers, is turning out to be an even bigger boon for their Japanese rivals.

According to data published by the National Highway Traffic Safety Administration on Monday, Americans are using the scrappage incentives to buy more vehicles from Toyota than any of the three Detroit carmakers

Toyota has an 18.9 per cent share of vehicles bought so far, putting it ahead of General Motors with 17.6 per cent and Ford with 15.4 per cent. Chrysler is in fifth place, after Honda.

Getting the government you deserve every day since January 20, 2009…

H/t: Matt “threat to democracy” Drudge.

Cross-posted at Virginia Virtucon.

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