What does the Beijing Organizing Committee for the Olympic Games plan to do to solve the problems caused by car boom?

China’s car boom is presenting the country of 1.3 billion with a dilemma.
The Beijing Organizing Committee for the Olympic Games, for instance, is experimenting with a plan to limit the number of vehicles entering the city during the two-week sports extravaganza next summer by using odd-and even-numbered license plates. Traffic gridlock and air pollution have been haunting organizers. International Olympic Committee President Jacques Rogge even hinted at the possibility of rescheduling some endurance events if air quality doesn’t improve. The country’s car population has been growing due to an emerging middle class that desires personal mobility. Already, China has become the world’s second largest consumer of auto- mobiles and the third biggest maker of automobiles.

City has raised the most 14.5 billions dollars in January from foreign governments and wealthy investors. In November, it sold a 4.9% stake to the Abu Dhabi investment authority for 7.5 billion dollars. This week, a Dubai government fund manager said city group would need a lot more and may have trouble getting it. A sentiment reflected on Wall Street, the stock’s price cut in half in a year and now trades at its lowest price in ten years. The bank’s new CEO Vikram Pandit in a company Memo today described what he calls a challenging economic environment but insisted City is financially sound well-capitalized and focused on the strength of our balance sheet. The company does have enough money to meet federal requirements. Banking regulators won’t comment on city group’s problems. Despite several years of record bank earnings, bank failures are on the rise.