I think China’s old for new policy is great. It mirrors somewhat the US “clunker” policy for automobiles. As such, it has two desirable outcomes as an economic stimulus and also replacement of older equipmant with newer and hopefully more environmentally friendly replacements. A significant side benefit is the capture of the old equipment at point of sale. This greatly facilitates recycling or disposal. I wonder why the large US companies or the US government have not jumped on this bandwagon.

Tom