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No i think china decided to invest in manufacturing of future cars. They planned years ahead, developing rare earths and batteries. Then they encouraged new vehicle manufacturing, supported them, pushed them, invested in them, things that all countries do to build a priority industry. Sure there’s some inefficiencies, they wasted some of their money. But they dominate rare earths, dominate batteries, and are on their way to dominate EV manufacturing.
I’m all for some amount of protectionism, some amount of investment, planning on related technologies. We need to fight on equal ground. US economy took huge profits, huge pay, huge benefits from legacy car manufacturing and its important to support that 8n future manufacturing, to try to keep reaping the benefits.
But after doing a lot of research on batteries, we failed to develop manufacturing. After finding huge rare earths resources, we failed to develop those. We finally seemed to get our act together with incentives to develop new technology vehicles, to establish a large and growing market, to develop related technologies here, and to push legacy manufacturers to make the transition, and just threw it all away. It’s great for shareholders that legacy manufacturers will make sizeable profits on obsolete technology for a couple more years, but this is yet another case of throwing away any advantage we had, of pushing manufacturing more offshore.
Yes, I’m afraid that in a couple years when legacy manufacturers decide to get serious about new technology vehicles, they will be too far behind to succeed. They will be buggy whip manufacturers unable to build viable products for the automobile age, unable to compete where there will be a new set of established dominant manufacturers. China is not to blame for our failure, we are