Like many elder Chinese millennials, Alice Yu was deeply saddened last week when she heard the joint venture that made Jeeps in China had declared bankruptcy.The 40-something recalled her then-boyfriend giving her an unforgettable gift in the early 2010s: an imported Jeep Grand Cherokee costing more than 400,000 yuan (US$55,700).At the time, Yu was an up-and-coming media manager living in Shenzhen, and the luxurious SUV seemed to symbolise the “American dream” of freedom and prosperity that...