Summary
China has become the world’s largest car exporter by dominating electric vehicle (EV) production, surpassing traditional carmakers in Europe, Japan, and the U.S.
This shift stems from China’s heavy investment in battery technology, supply chains, and generous subsidies, enabling it to produce cheaper EVs, like the BYD Seal, compared to Western competitors.
Europe and America, reliant on outdated internal combustion engine expertise, have struggled to adapt to this disruptive innovation.
Many nations are imposing tariffs on Chinese EVs, but without robust domestic battery infrastructure, Western car industries face mounting challenges as the EV transition accelerates.
Maximizing share value at the expense of quality, productivity, and affordability for consumers. Like transnational corporations ALWAYS do when they’re allowed to by negligent and often complicit governments.
TL;DR: Under-regulated capitalism is what’s wrong.
Competition of Chinese vs. European industries is not faire, because there are worker rights in Europe. Chinese companies are allowed to underpay and therefore produce much cheaper products. If Europeans want to buy products made by fairly payed workers and support their own companies, they need to disallow unfair competition to enter their market. So yeah, under-regulated capitalism, I agree.
Nah CEO profits are through the roof and salaries are barely living wage everywhere.
I don’t think wages in China and Germany are really comparable. China and the US, could be. But we were talking about Europe.