That would be equivalent to nearly 50 per cent of the vehicles in the world today. Other startling statistics can be quoted. No-one knows whether such projections will turn out to be accurate, but even a start down such a track by China surely will carry significant implications for energy and resource prices, climate change, technology and a host of other issues.
Unconventional monetary policies may very well complicate policymaking for emerging market central banks and create significant challenges going forward, not least of which relate to the unwinding of loose monetary policy in the advanced economies and the implications for capital flows.