China’s driverless future farther off than first thought, report predicts

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As a number of Chinese tech companies put the pedal to the metal in the race to dominate the autonomous vehicle industry, a major global information provider is proceeding with caution with regard to predicting the industry’s near-term growth

Driverless cars won’t be widely available for online hire in China until around 2025, according to a report published Friday by London-based research firm IHS Markit.

While researchers recognized the potential of autonomous vehicles to make travel more efficient, they warned that the need for policymakers to regulate emerging industries will put the brakes on the switchover from conventional vehicles.

Nonetheless, by 2035 China is expected to be home to some 33.6 million autonomous vehicles, around 10% of the world’s total, the report added.

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U.S. government student loan policy reaping $51 billion profit

At $1.1 trillion, student debt eclipses all other forms of household debt, except for home mortgages.

The U.S. government is forecast to turn a record $51 billion profit this year from student loan borrowers, a sum greater than the earnings of the nation’s most profitable companies and roughly equal to the combined net income of the four largest U.S. banks by assets.

 

 

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