As Prices Race Ahead Here, Desolation Grips China While most nations of the world grapple with soaring inflation rates, China finds itself in the grip of an opposite menace - plummeting prices. This unexpected descent fuels fears of a downward spiral that could spell doom not only for domestic industries but also for foreign enterprises. A glaring example is the automotive sector. Volkswagen, a global giant, delivered a staggering 12.5% more cars to buyers in the first half of the year compared to the same period last year. Yet, paradoxically, in China, a region where the company now garners over a third of its sales, sales figures took a nosedive. BMW and Mercedes-Benz managed to increase their sales in the Middle Kingdom, but the growth pales in comparison to other markets. BMW's quarterly report grimly acknowledges, "Consumer hesitancy is taking its toll." This hesitancy pervades various sectors, breeding multifaceted problems. In June, China witnessed a striking in...