Sorry!! The article you are trying to read is not available now.
HOT TAGS:  

An Amazing New Way for the Chinese to Avoid Auto Congestion

Print comment Post Comments
MARKETS IN EVERYTHING
DailyFeed
Chinese lawmakers are taking action to combat the growing headache of congestion on their roads and highways

For instance, the Wall Street Journal reports this week that Beijing's city government will issue a maximum of 240,000 license plates for new cars and microvans this year, after issuing an estimated 750,000 plates last year.

The city said it will restrict new licenses to registered Beijing residents and that cars without Beijing plates will be barred from entering the main city area during rush hour. Other major cities are expected to follow Beijing's lead.

However, some quick-thinking Chinese entrepreneurs might not hail the end of all this insufferable congestion. They’ve actually profited from it. China Daily reports:

“With more Chinese people getting behind the wheel every day, traffic jams are a major headache in most cities but the gridlock has become an opportunity for some entrepreneurs who are offering an escape route - for a price.

Drivers who get stuck in traffic in some cities can now get on their mobile phones and call for a substitute to take their cars to their destinations while the frustrated drivers are whisked away on the back of a motorcycle.”

Hat tip: Marginal Revolution.
POSITION:  No positions in stocks mentioned.

TICKERS