China's car manufacturer BYD makes high-quality EVs beginning at less than USD $10,000 and up. That's almost $50,000 cheaper than the average price of an EV in the US: or about the same cost as a higher-end Chinese EV.
Oligarchs like Musk love the free market when it works in their favour. But as soon as it doesn't, they start squealing, and the politicians that work in their interests come to their rescue.
"Free trade" was always nonsense. Every advanced economy developed through significant state intervention, tariffs, subsidies and industrial policy.
The US only preached free trade after establishing the hegemony of its dollar aka "the rules based order."
But now that it is losing dominance to China, it is returning to protectionism in order to better compete with it.
Oligarchs like Musk love the free market when it works in their favour. But as soon as it doesn't, they start squealing, and the politicians that work in their interests come to their rescue.
"Free trade" was always nonsense. Every advanced economy developed through significant state intervention, tariffs, subsidies and industrial policy.
The US only preached free trade after establishing the hegemony of its dollar aka "the rules based order."
But now that it is losing dominance to China, it is returning to protectionism in order to better compete with it.
