Expert talks dark side of Chinese auto industry: Spying, slave labour, killing US car market: 'Extremely predatory'
The expert’s message comes as Chinese electric vehicle company BYD recently surpassed EV giant Tesla’s production for the second straight year, manufacturing over 3 million vehicles in 2023 compared to Tesla’s 1.84 million. "China makes 60% of the world's EVs. It manufactures 10 million more cars per year than it can absorb in its domestic market, which means it must export those additional cars, which means it floods the markets around the world," he said.
"Admission to the World Trade Organization was supposed to sort of integrate China into a global system of rules. That hasn't worked. China has openly violated its WTO obligations," Chang said, adding,"We do not want China to own all of our manufacturing capacity so that there are no American manufacturers left. I know that that sounds extreme, but that's what China wants. And we have the power to stop it because this is our country.
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Source: FinancialReview - 🏆 2. / 90 Read more »