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Why is competition for US auto makers a bad thing ?
Because we don't like free markets. We like the illusion of choice, but the security of monopoly.
I do believe that is what they meant
This isn't competition, it sounds like the CCP heavily subsidises the manufacture, in an attempt to kill the American industry off.
Thinking in decades or centuries is a very powerful tool!
China: "Here, have a bunch of cheap electric vehicles to replace your aging fleet of ICE engines. Don't worry, we're picking up a part of the tab."
Americans: "What a great deal! We'll buy them in droves."
State Government: "Not so fast! This wouldn't be fair to honest, hard working domestic car companies like Tesla and Volvo and Toyota."
Shame we're only capable of thinking about the next quarter's profits.
Large professional centrally planned economies do a better job of managing scarce resources than a pack of ill-informed and uncoordinated Wall Street Lemmings.
Sometimes. And when they dont, there is no one to stop them. It's the age old problem of a wise despot. Just dressed in different clothes.
When you're governing wisely, there is no need to be despotic. Conflicts and contradictions necessitate a large militant police state to keep the lower class in line. But when you've got generous surpluses and a rising quality of life, people are generally happy and easy to govern.
Despot means you have absolute power. It doesn't mean you use it badly. It just means you have the potential to.
Traditionally in a cruel or oppressive manner.
The wise leader doesn't need to inflict cruelty, because they have the public's trust.
And when they are no longer wise?
Then people grow unhappy and begin to rebel. And they either pave a new, wiser path or double down by resorting to cruelty.
Exactly. Which is why a despot is not wanted. Much better with a small revolution every now and again; i.e., an election.
The US subsidizes their EV industry twice as much as China. The real why China can do this is because the US has gutted their industrial base in favor of financialization while China built up their industrial base.
Yeah, sure - that's still China trying to undercut and ensure the US remains reliant on them long term...
No that's just the US not being competitive because stock buy backs and layoffs are easier than building good cheap cars.
...or both. Think about it, if what you've said is completely true (I don't disagree, BTW), why would they bother subsidising?
They're trying to ring fence the market. That the US is helping then is only vaguely related
But it's not both. How can you produce something for cheaper with less subsidies unless your just better at it.
It's like saying the winner of a race had an unfair advantage even after giving their opponent a head start.
Because the US is an authoritarian pseudo democracy being run by cartels. And free market and capitalism is a death sentence for them.
And a 7500$ rebate isn't a subsidy?
Oh yeah, that's hilarious. China is not an innocent actor here.
On top of the other things people are saying, I guarantee that the U.S. automakers will do a "China will take your jobs" thing if this happens.