this post was submitted on 18 Oct 2023
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Oh no, capitalism hurts itself in its confusion
"Capitalism breeds innovation and drivers prices down!"
Capitalism: no not like that
Unsustainable Chinese state subsidy is not capitalism.
Every country does some level of industry subsidy. So it's kind of baked into capitalism now. And, technically, has been since the beginning.
yes, it is, USA also do that, and others countries with fossil fuel
Yes, and the EU largely responds in the sectors of US subsidy. Food imports are restricted. Airbus and Boeing are constant sources of trade spats, etc.
Chinese subsidy makes American subsidy look like childs play. Their response to China should match that discrepancy.
They are talking about car subsidies which China does and not all countries do in all markets.
It's not that simple. Caricatures are easy, but the fact remains that the Chinese auto makers are heavily subsidized and it's that government support that allows them (partially at least) to undercut the European auto makers.
That being said, the European auto makers really deserve to be hurt for their arrogance. And that's coming from someone whose income is directly related to how well they do.
If the EU bans Chinese cars, that's not capitalism in action.