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Their EV market is pretty competitive, and they have multiple brands all releasing EVs. Nio, BYD, and Xpeng come to mind. Compare to the US, where we only have
by firejake308 1y ago
Their EV market is pretty competitive, and they have multiple brands all releasing EVs. Nio, BYD, and Xpeng come to mind. Compare to the US, where we only have one EV maker with a decent market share (Tesla) which has stagnated in innovation. My argument is that where China has succeeded, it has done so by adopting Western values like free-market competition (see the reforms of Deng Xiaopeng) and where the West has failed, it is due to monopolization and stagnation/decadence.
- TFYS 1y agoRelying too much on free-market competition is what is causing the west to stagnate. Left on their own, markets will produce monopolies and won't invest in expensive and risky basic research, or really anything of value where that value can't be captured by a single profit seeking entity. China is using free markets more as a tool when it makes sense and not treating it as an intrinsic value like the west has been. China has used subsidies and carefully controls that no businesses get to a monopoly position, which allows markets to function more efficiently and directs their power to things that make sense for the nation as a whole instead of just a single company or industry.
- firejake308 1y agoTo boil down our discussion to one point, perhaps it is "competitive markets" that are necessary for success, and not necessarily "free markets".