Today, we continued to view the video "The People's Republic of Capitalism". We finished the first segment today, and we are now going to the third. We skipped the second because Mr. Schick believes that the second isn't as important as the others. The third parts title is called "The Right Lane". The video covers the topic of automobiles in China, and how they affect the economy and China's way of life. In China, the usage of the automobile is fairly new. China only started to use automobiles about 20 years ago. Before, everyone used bicycles for transportation. Now that everyone is using automobiles, you can now travel long distances instead of going as far as your feet can take you.
Because the usage of the automobile in China is pretty recent, they're are little laws regulating who can drive and what happens when you get into an accident. In the United States, you are required to have auto insurance if you own a car, but insurance acts differently in China. The video showed Liberty Mutual, an American Insurance company, solving a problem with a n accident. Usually, the people who get into an accident apologize to each other, give the other some money, and go their separate ways. No liability, no court, and the problem is solved right on the spot. Liberty Mutual had its own van, and the company used it for arriving at accidents, and helping the people come to a solution.
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