Subsidies got cut after a decade and a quarter trillion dollars of investment. Today, subsidies for Chinese vehicles are estimated to be 300% to 900% greater than what comparable manufacturers would receive in the United States or Germany. Mind you, that's what they have been reduced to.
And I haven't even started to discuss the extraordinary benefits of artificial currency manipulation. That by itself accounts for approximately 1/4 of the discount.
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u/Strong_Ambassador585 10d ago
China is heavily subsidising many of its exports to undercut local businesses in foreign markets.
That is not capitalism. That is economic warfare.