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What is sad is the US also funnels billions into the auto industry but we don't even get affordable prices for our investment, let alone prices that would crush foreign competition.
In the US, people working in the auto industry are largely unionized and getting pretty decent pay and benefits too. The US also has pretty strict safety standards that require planning and testing that cost a ton of time and money.
Thanks to the recent strikes we all know what a small percentage of their revenue goes to the workers. They are also why banning Chinese imports has validity. But lack of competition leads to 7 year car loans.
A relative of my buddy just got a 10-year car loan and she is going to be paying more than the car is worth in interest in that time.
And they use that to get people to think it's ok for the prices and even defend them, despite record profits across the industry.
US companies probably use those subsidies to raise executive pay & bonuses
US companies probably use those subsidies to raise executive pay & bonuses
In that regard the U.S. system is very much the same as China's, but that aside there are major important differences.
[Edit typo.]
Does China have a predatory car dealership model similar to the USA?
If we eliminated them, car prices would be competitive. They provide nothing of value and just siphon off money.
What about ...
Commenting on your own posts with your alt account is bad form.
This. And the same applies to Germany where the study originates.
Because that's not an investment, it's a donation.
Won't anybody think of the poor shareholders?
i don't love china but "we must stop them from checks notes subsidizing green energy" is bizarre
Yes โ the answer should be our own green energy campaign.
But we can't afford that. We somehow need to subsidize fossil energies after all, because of the economy!
/s obviously
China is trying to build hegemonial economic power, with Chinese products being an integral component of every future supply chain. Green technologies are an excellent vehicle for that, because they're fairly future-proof and will see extreme growth.
But sure, the EU needs an equivalent to the US's IRA if it wants to have any industry or political/economic independence going forward.
I'm sorry, I'm afraid that has already happened?
What exactly is being manufactured outside China? How many items in your household are not from China?
China owns a lot of manufacturing capacity for basically everything already, correct. However, in most of these industries there are alternative supply chains, often a bit more expensive and a lot lower-capacity. But if in the future, China is the only country that can produce certain goods at all because e.g. they have the only scientists who know their way around a certain technology, then that's a different situation still.
(Also, quite a few things here are not made in China, including recent buys. That list excludes most electronics though, I give you that.)
I mean the price was the only reason it all moved there. I will always support any movement that would change that.
But I can't help but feel that the only blame is on the capital leaders, who did that. China is just doing what they get paid to do, and we collectively give them the money.
Cars are not "green energy".
Every country subsidizes their own auto industry. Every single one of them.
Ssssshhhhhh!!! We're having a circlejerk here!
So isn't this similar to the US Chips act.... Funnel billions into an industry that the country sees as nationally important.
Doesn't the EU do this with its farm subsidies? Ensuring Europe can feed itself if it needs to...
But what about times two.
Terrible, will probably have a big impact on super yachts sales as well.