I think he's mostly right. If there's a flaw in the handouts, Chinese businesses will take full advantage of that.

There was an interesting video (https://stacker.news/items/1006946/r/optimism) posted on the "Chinese EV reality" the other day where some crazy stimmie-leeching schemes were alleged. There could be truth to it, but I haven't fact-checked it.

optimism

I knew there was strong competition, but I had no idea that there were also government subsidies.

There's such a divide in the media I see on China. We know the housing market is in trouble, but they still come across as strong in manufacturing as well as strategic assets like rare earth or cargo ports.

econ

China: Six Major Cities Run Out Of Car-Buying Subsidies

I knew there was strong competition, but I had no idea that there were also government subsidies.

There's such a divide in the media I see on China. We know the housing market is in trouble, but they still come across as strong in manufacturing as well as strategic assets like rare earth or cargo ports.