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EV Trade War Heats Up: China Challenges EU's 35% Tariff at WTO
618 sats \ 9 comments \ @TomK 4 Nov news
Welcome to the ring of the regulation and subsidy giants!
China has officially lodged a complaint with the World Trade Organization challenging the EU's recent 35.3% tariff on Chinese electric vehicles. This marks a significant escalation in the growing trade tensions between two of the world's largest economic powers. The EU's protectionist measure, aimed at defending domestic EV manufacturers, has prompted Beijing to launch retaliatory investigations into European spirits, dairy products, and pork imports.
But the fact that China, of all countries, is appealing to the arbitration tribunal because of unfair competition conditions is indeed a joke in itself. Communists are always good for a joke!
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47 sats \ 6 replies \ @BlokchainB 4 Nov
It’s so funny. Why doesn’t China just make its cars and sell it to its own citizens? Instead they get upset that they can’t sell their EVs to the wealthy west.
Plus I am no fool the reason why China EVs are so cheap is because of the shit labor laws they force on their citizens.
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49 sats \ 3 replies \ @TomK OP 4 Nov
They are running a metcantilistic fiat ponzi keynesian economy
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0 sats \ 2 replies \ @BlokchainB 4 Nov
That blows up as soon as the west goes isolationist
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0 sats \ 1 reply \ @Solomonsatoshi 4 Nov
There is no country that would not suffer economic loss if it ceases trade with China. China is already demonstrating with Russia and Iran that it can provide a near full alternative to the wests monetary, military and mercantile hegemony. Bitcoin looks very unlikely to replace the USD- the Chinese CBDC EYuan already is.
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131 sats \ 0 replies \ @Cje95 4 Nov
You’ve seen the stuff about the EYuan though right? The Chinese people consistently convert it to real Chinese Yuan because they don’t trust the government lol
They don’t want their money to “expire” or be removed without their consent like the EYuan allows
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0 sats \ 1 reply \ @Solomonsatoshi 4 Nov
China has beaten the west at its own game - now the west is putting up trade barriers desperate to protect its shrinking manufacturing sectors that cannot compete. Libertarians sing the song of open markets free market capitalism only as long as it suits you. You fail to understand that Chinas success is built upon the same formula as the wests was post ww2- a judicious mix of state led capital allocation toward infrastructure and free market competition. Yes they have less red tape than the west has tied itself down with- that's not Chinas bad. The west has assumed it can manipulate the international markets via its control over the international institutions and the monetary system- rather than producing more than it consumes in an honest manner- that fiat debt inflated delusion is now being exposed. Time to admit free markets are not the sole source of wealth - government strategy is and always has been crucial...and the wests governments have been captured by private capital lobbyists who do not strategise beyond their own narrow rentseeking interests.
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0 sats \ 0 replies \ @BlokchainB 4 Nov
😂 free market? What in the world? China is the LAST thing from a free market. They banned bitcoin! They banned Amazon and other American tech platforms from gaining a stranglehold on the Chinese IT sector. They always pick and choose what companies can do business within their borders.
They became the manufacturing powerhouse because the west exported the labor to China where the CCP is the only union in town in the pursuit to maximize shareholder profits by driving the cost of labor to zero. This is why China rose to a power. The west allowed it.
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122 sats \ 0 replies \ @Cje95 4 Nov
You commented on what I was exactly about to say! China demands all these foreign companies bend the knee to them, use slave labor, and go all out to make sure they control things but as soon as someone wants to do things themselves they just complain and whine and file issues with the WTO.
Chinese companies don’t have to make money with the government backing them and first that isn’t sustainable and second throw the biggest fit you can China but even the WTO has ruled against you time and time again!
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0 sats \ 0 replies \ @Satosora 4 Nov
Its funny how they are the first to complain. They cant offload them to russia. Russia cant sell them to the eu.
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