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November 22, 2008 7:54:12 CST

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Chinese Embrace SUVs, Hummers as Status Symbols

Posted Jun 18, 08 7:00 PM CDT in Business,  World 

(Newser) – Demand for gas-guzzling SUVs keeps growing in China, where the vehicles have become status symbols. Even Hummers are selling fast, despite sky-high oil prices, the Financial Times reports. "There are plenty of other sources of pollution than cars, and life is short so we should enjoy ourselves anyway," says a Beijing executive.

The trend toward big cars among Chinese drivers is growing controversial, the Times notes. China is the world's biggest contributor to the annual rise in oil consumption, even as its gas prices are about 40 cents lower per gallon than in the US—and far below Europe. US Treasury chief Hank Paulson says he will urge China to raise prices to try to cut down on consumption.

Source Financial Times (UK)

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