this post was submitted on 19 Nov 2023
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A Boring Dystopia
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Tbf, the US has to spend 10$ for every one China spends to be able to project to our allies that China threatens geopolitically, and that cost gap is what most people talk about when they worry about China pulling ahead.
The other kind of person are racists who are still upset that China might have a big influential economy, like it has had since the dawn of human civilization.
In 1982, a Chinese delegation reached Turin for a joint venture. FIAT, the major Italian car maker (with a long and nefarious history), answered that in China there were no roads, and bicycles crowded the few there were.
The delegation went to Munich, signed a deal with Volkswagen and that's the story of how German car makers gained a foothold in the Chinese market.
And now, because German auto-makers dragged their feet transitioning to electric cars, VW is bleeding market share in China.
Oil beats automotive