Well China did subsidize that industry massively, to a point were their domestic market is flooded with very low margins. So the market is already very distorted. But I find it hard to hate on that because flooding the market with electric vehicles and solar panels is better than anything economists are coming up with.
Plus people usually bring it up in a stupid way. Yes they did. Yes we do that too (for all the “we” on the internet). Some amount of that is entirely normal on the global market.
The real problem is US conservatives who understand car manufacturing is a strategic industry but do not want to give that guidance to aid the transition to new technology, US politicians who can’t cooperate on a coherent long term industrial policy, US politicians who can’t look beyond short term profits for their corporate owners, or outrage headlines for their constituents. There’s nothing magical about Chinese companies taking over the industry, nothing hidden, just politicians establishing a strategy and sticking with it long enough to benefit
It will. It really does regulate itself, no /s needed.
Except that happens via some businesses going bankrupt and some adjusting.
And either it’s free enough for monopolies to crash, or regulated enough for monopolies to be killed, or both.
If it’s neither, then you have today’s tech industry.
EDIT: And here the fears are that big companies will go down with their shareholders whining and their political cronies suffering and so on. Whether you want free market or literal socialism, the main problem is in separating private narrow interests from the state machine.
Where free market? It will regulate itself /s
Well China did subsidize that industry massively, to a point were their domestic market is flooded with very low margins. So the market is already very distorted. But I find it hard to hate on that because flooding the market with electric vehicles and solar panels is better than anything economists are coming up with.
Plus people usually bring it up in a stupid way. Yes they did. Yes we do that too (for all the “we” on the internet). Some amount of that is entirely normal on the global market.
The real problem is US conservatives who understand car manufacturing is a strategic industry but do not want to give that guidance to aid the transition to new technology, US politicians who can’t cooperate on a coherent long term industrial policy, US politicians who can’t look beyond short term profits for their corporate owners, or outrage headlines for their constituents. There’s nothing magical about Chinese companies taking over the industry, nothing hidden, just politicians establishing a strategy and sticking with it long enough to benefit
It will. It really does regulate itself, no /s needed.
Except that happens via some businesses going bankrupt and some adjusting.
And either it’s free enough for monopolies to crash, or regulated enough for monopolies to be killed, or both.
If it’s neither, then you have today’s tech industry.
EDIT: And here the fears are that big companies will go down with their shareholders whining and their political cronies suffering and so on. Whether you want free market or literal socialism, the main problem is in separating private narrow interests from the state machine.