According to Russian 'Messager' and Today's Russia (RT), at the annual meeting of the Voltaire International Debate Club on October 1 local time, Russian President Putin said that due to the deep recession in the European automotive market, soon all car owners may switch to Chinese cars.
"Where is Europe's automotive industry? Companies are closing down. We will soon be driving Chinese cars. Whether this is good or bad, I don't know, but they are cheap and have good quality." Putin said.
Putin also refuted the accusations by Western countries regarding China's 'overcapacity' in the automotive industry, and reiterated the basic principle of the market, that is, the ultimate outcome is always determined by consumer demand.
He also stated that today, not only is the European automotive industry in a deep crisis and severe predicament, but so are Europe's metallurgy and related industries, as well as its chemical and pharmaceutical industries.
Putin pointed out that, unlike the so-called "civilized world," Russia fundamentally rejects administrative restrictions or sanctions against Chinese manufacturers. He stated that Russia is more inclined to reach agreements and work with Chinese partners to find mutually beneficial opportunities, in order to steadily increase the volume of imports into their domestic markets.
