李稻葵Li Daokui, Professor, Tsinghua University— “Why don’t people in Hong Kong or New York buy cars? Why are people in Beijing and Los Angeles different?” For the former, high population density, expensive parking, and developed public transportation are major factors. Considering the high costs of keeping a car in Hong Kong and New York, it’s more feasible to use public transportation. In New York, you can hire a driver or take a taxi, and considering you don’t have to pay for parking, it’s not too expensive compared to owning your own car. On the other hand, Beijing and Los Angeles are very spread-out, with underdeveloped public transportation systems, moderate parking costs, and are relatively inexpensive places to own a personal car, which result in heavier traffic.