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35% 25% 400 Korea 15% 300 Taiwan 5% 200 5 5% Thailand -15% China -25% 0 ~ “= = India 1990 1995 2000 2005 2010 1980 1987 1994 2001 2008 . _ . Source: China Association of Automobile Manufacturers, CEIC, J.P. Morgan Source: Energy Information Administration, BP. Securities LLC. Vaclav sees these trends as important, since they affect prospects
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