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Who the fuck is it that is making these stupid taglines? Pulls it's gun? Just post a normal title, if you have to spruce this shit up with nonsense, it means your writing sucks or the subject is not worth reporting in the first place
Well you know how the Europeans are famous for their strong gun culture.
This is mind-bending politics to me. My brain can't handle the intricacies. I barely understand what this is about.
Basically, China pumps incredible amounts of money in to companies, so they can undercut prices from EU companies crazy - forcing the EU companies to give up. EU wants to level the playing field.
Edit: With taxes for Chinese companies that want to sell something in the EU, like China already does as well on the Chinese market.
There also another thing at play here: China has laws, so that foreign companies need at least 50% Chinese "shares" (it's not just shares), basically neutering these companies and also giving away the technology to Chinese third parties. Wich further erodes the playing field, because now Chinese companies not only can produce stuff dirt cheap, they can also do it with "high-tech" stuff, without having to pay and/or do the development.
So does the US, though? Tesla has received an absurd amount of government support. So has Intel. This is targeted at China specifically, it's not some economic leveling scheme.
There's still a huge difference, because most of the subsidies in "western" countries are Tax Subsidies (there are exceptions). Chinese companies get direct money. There's also the fact, that management is often in the CCP, sometimes even directly involved in the law making and various other things. Almost all subsidies are also in government loans, meaning they have to be payed back - the difference to bank loans though is that the government loans do not have interest. Again something that isn't happening in China...as the CCP mostly owns those companies as well, they do not have to pay back the money.
Compare the subsidies received by Tesla and BYD. Cite your sources to back up your claims.
Yes, because the CCP are renowned for sharing information and transparency.
If the World Bank and the IMF find the data released by China credible, why can’t you?
Fine, then just tell me about what subsidies Tesla has received. I'll wait.
It is estimated that China's subsidies for its domestic industries are extraordinarily high, ranging from 3-9 times compared to that of other OECD countries. BYD in particular is estimated to have received 2.1 billion EUR in 2022 in direct subsidies alone. This figure is understood to be understated due to additional indirect assistance such as cheaper access to batteries etc.
For comparison, Tesla is estimated to have received around 2.8 billion USD in combined state, local and federal subsidies, with an additional 460 million USD in the form of bailouts and loan assistance, in total to date.
China's Massive Subsidies for Green Technologies | Kiel Institute - https://www.ifw-kiel.de/publications/news/chinas-massive-subsidies-for-green-technologies/
Subsidy Tracker - https://subsidytracker.goodjobsfirst.org/parent/tesla-inc
Elon Musk’s growing empire is fueled by $4.9 billion in government subsidies
Story from 2015. If you include the tax rebate incentives (which are included in BYD's reporting, but which function differently in China because China lacks direct income tax for most people due to accounting costs... It's an open secret that the Chinese government doesn't care about personal tax income much), Tesla's numbers skyrocket:
Tesla to get US$41 billion in government subsidies over made-in-US EVs and batteries
If you want to argue that the $7500 EV purchase incentive is not a direct subsidy because it has no specific cash value (since it's dependent on the person's tax burden)... Be my guest, but that's a laughable position.
Found the tankie
Ah okay, wow, nice and concise. Well done, thank you! 🙏
Before the Industrial Revolution, Europe had an issue trading with China as Europe had issues finding anything to trade. Europe's natural resources weren't valuable enough and China was able to produce many manufactured goods.
The colonization of the Americas was done in part to either get new natural resources not located in China or precious metals like silver and gold. The trade deficit got so bad that the UK and other European countries started selling opium as a way to balance trade.
China's reindustrialization is bringing itself back to that old status quo and the EU is trying to fight this.
I hear EU discussions are on about the Chinese shops like Temu as well as discussions about Tik Tok
Temu is a nightmare designed to destroy foreign competition
This is the best summary I could come up with:
On Tuesday, EU investigators swooped on the Dutch and Polish offices of Nuctech, a maker of security scanners, in a case that hinges on one of Europe's longest running grievances with China — lavish state subsidies that help Chinese firms undercut European rivals.
For years, Brussels has repeatedly taken an emollient tone with Beijing, seeking ultimately futile dialogue on state subsidies and overcapacity in sectors such as steel, aluminum and green tech, rather than choosing direct confrontation and a tit-for-tat trade war.
Europe's early attempts to rival Belt and Road were seen as damp squibs, but an internal Commission document obtained by POLITICO says the bloc must now focus more seriously on building footholds in key strategic mining and energy interests in Africa and Central Asia.
Two people familiar with the impending decision said Brussels was close to designating Shein as a "very large online platform" in the coming days, exposing it to extra scrutiny under the bloc’s content moderation law.
In a classic sign of China's asymmetric approach, shortly after von der Leyen launched her high-profile investigation into made-in-China electric vehicles, Beijing hit Europe’s liquor exports, in a move that seemed particularly tailored to France's cognac sector.
But despite those threats of retaliation, von der Leyen has little room to keep her powder dry, particularly as she fights to win a second term as Commission president — a move that would require support from France, the main advocate of protecting European industry from China.
The original article contains 1,260 words, the summary contains 244 words. Saved 81%. I'm a bot and I'm open source!
Fact that it's Hu Jintao's kid makes me think this is theatrics for both sides
Hu Jintao's from a different faction of the CCP than Xi Jinping, this is effectively Europe hitting one of his potential rivals.
this post was submitted on 26 Apr 2024
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