That’s what happens when a government massively subsidizes manufacturing in an industry.
You know that American car makers are heavily subsidized right? Didn’t we just post a story about GM fleecing the government of 6 billion.
It’s amazing how Americans have zero self-awareness.
See my other reply to a similar comment.
I assume the $6 billion refers to their recent stock buyback? Stock buybacks should be illegal, but I don’t see where that’s ripping off the government. It’s actually notable that the government took a massive ownership stake in GM in exchange for the COVID bailout.
US corporations have been “massively subsidized” to the tune of hundreds of billions of dollars a year, for most of the last century. Now that they can no longer compete against the monster they financed the last 40 years, all you simps jump to their defense instead of blaming them for turning their backs on, and impoverishing, the domestic workforce, and endangering national security.
This is what happens when you let your corporations outsource their operations to authoritarian states; chasing the lowest paid workers, circumventing labor and environmental regulations, and devaluing the domestic labor market for generations. They had no problem “competing” when they had the strategic upper hand and were generating more profits.
Oh well, at least the richest 1% got richer.
I absolutely blame them for what they did to workers, particularly in manufacturing, Bill Clinton was especially bad, though later presidents did little to nothing to fix it. However US subsidies are far less than China’s, and the bulk of them work differently.
It’s relevant how the subsidies are applied. Most of the US subsidies for electric vehicles are applied to the price of purchase and, until recently, were as available to foreign manufacturers as domestic. That means those subsidies don’t apply to US manufactured vehicles being sold outside the US. China, applies far more subsidies directly to manufacturing than the US does, meaning they apply equally to vehicles sold both domestically and abroad.
It’s not a matter of which countries subsidize their industries and which do not. All countries subsidize their important industries to some extent. What China has done is far beyond accepted norms, and that provokes response.