China's big problem: growing old before growing rich
Aruna NatarajanMindShare Shanghai
In November 2005, Jerry Chen bought a minivan. By doing so, he joined thousands of other Chinese people who did the same and helped the multi-purpose vehicle (MPV) segment almost double in size, making it one of the fastest-growing segments in China's automobile industry.
What made Jerry, a 34-year-old Shanghai resident, a happily married man with a wife and a child, who works as a senior executive for a multinational company, buy a car larger than necessary in a time of rising fuel prices?
His parents.
Jerry's case...