China’s auto industry is some 10 years away from being able to compete in the global market says Sanford C. Bernstein.   Sandford auto analyst Max Warburton told Bloomberg this week that the likes of General Motors (NYSE:GM) Volkswagen (PINK:VLKAY) and Toyota (NYSE:TM) are still vastly outspending Chinese auto companies in research and development which enables them to hold on to their lead in the global market.   “The Chinese are 80% of the way there; 20% doesn’t sound very hard but it’s probably the most complex bits to get right ” said the Singapore-based Warburton who has a ...