"Optimism raises equities and rising equities create wealth, thereby induces consumer confidence, so rising confidence increases consumer spending, when increased spending spurs more productions and thereby creates more employments, and vice versa."
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Automakers benefit as domestic sales soar
BEIJING - Automobile manufacturers continued to benefit from brisk domestic sales in November, as General Motors (GM) led the industry in releasing higher figures on Thursday.
GM, which recovered from last year's bankruptcy protection crisis thanks, in part, to its prosperous business in China, reported a November sales record of 196,990 units, with an 11.2 percent rise on an annual basis, supported by an all-time record monthly demand for vehicles in its Buick and Chevrolet brands.
For the first 11 months, sales by GM and its joint ventures in China were up 32.7 percent year-on-year to 2,172,395 units.
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