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The top-selling cars in the area are mostly no-frills, practical cars, industry data show, a trend mirrored in other provincial cities and rural areas. In Pingdingshan, the top-sellers are the compact multipurpose vehicle Wuling Hongguang, 7-seater people carrier Baojun 730, Great Wall Motor Co’s (601633.SS) Haval H6, Volkswagen’s Lavida and GM’s Buick Excelle. Outside the city in nearby Lushan county another Wuling-Baojun dealer, Si Pengyuan, said local families used to take pride in having the best car, but had pulled back – cutting his sales in half versus 2017 chopard cufflinks uk sale.

“Rural people like to compete; when a family buys a car their neighbors will come and buy one too,” he said. “But this year people just aren’t coming. Families who have had cars for years aren’t replacing them.”. Pingdingshan’s downturn has spooked business people and the local government, which says that young people have less buying power or are moving away entirely. The slowing economy has sapped consumer confidence even as access to credit has dwindled amid a crackdown on risky lending and high levels of debt chopard cufflinks uk sale. This credit had previously spurred car purchases, some dealers said..

Zhang Yinlong, a local manager at an auto finance firm, told Reuters at a large second-hand car market near the city that it was a “bad time” to be in the industry. “I don’t see many customers are buying car these months,” he said. Ruan Pengfei, 33, who owns a children’s clothes shop, is one feeling the pinch chopard cufflinks uk sale. A self-confessed car nut with two kids, he bought a new Buick Excelle GT for 110,000 yuan less than a year ago and loves to drive it to work. But with sales at his shop slumping, he’s now reluctantly trying to sell the car for 85,000 yuan via an online platform and reverting back to his older Honda Fit..

SINGAPORE (Reuters) – The steep plunge in crude futures in the last few weeks was triggered by a nascent glut as supply-growth started to outpace demand, but it was also part of a broader pullback from risky emerging market assets such as Asian currencies and stocks. Those assets had done well in recent years, boosted by economic growth in nations such as China, India and Indonesia chopard cufflinks uk sale. But bulging debt across many Asian economies, tightening U.S. fiscal policy and the Sino-U.S. trade war have driven investors to vote with their feet, pulling their money out of assets such as oil or Asian stocks and instead turning to safe-havens like the U.S. dollar..

As part of that shift, oil markets have lost a third of their value since early October LCoc1CLc1. “Anything denominated against the USD is under pressure right now,” said Gregg McKenna, an independent cross-asset market analyst based in Australia. (GRAPHIC: Oil vs Dollar – tmsnrt.rs/2R8L4ih). Billions of dollars have been pulled out of crude futures. “Traders reported capitulation and liquidation,” ANZ bank said in a note on Monday chopard cufflinks uk sale. It added that net long positions for crude futures, which would profit from increasing oil prices, “were reported to be cut to their lowest level in three years”..