this post was submitted on 30 Dec 2023
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129
Chinese Carmaker Overtakes Tesla as World’s Most Popular EV Maker (www.bloomberg.com)
submitted 1 year ago by [email protected] to c/[email protected]
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[–] [email protected] 12 points 11 months ago (3 children)

As in tradition in China, the government will now let them go into a price war to push the manufacturers to find cheaper ways to make them. Many will go bust or give up.

Isn't that how a market economy is supposed to work, I mean normal textbook style? That's how capitalism was sold to me in my econ classes.

[–] [email protected] 5 points 11 months ago* (last edited 11 months ago) (2 children)

Sure, but what op described sounds like the equivalent of breaking a pool cue in half and telling the Chinese EV market there's only room for one manufacturer on the crew.

It's a massive waste of resources to have everyone race to the bottom like that.

[–] [email protected] 1 points 11 months ago (1 children)

I still don't get it. Isn't the point of capitalism and a market economy to have a constant "race to the bottom", eg. a race to provide a better service for a lower price on the supply side? I mean, interfering with that would be picking winners and losers, wouldn't it?

[–] [email protected] 1 points 11 months ago* (last edited 11 months ago)

Usually governments regulate their markets to prevent humans from going full human and burning everything as a sacrifice to the gods of greed. This is why we have agencies that regulate food safety, engineering standards, nuclear materials and chemical disposal.

The phrase "regulations are written in blood" reminds us that a race to the bottom will result in massive problems, and that regulation is an excellent idea.