[regularization]

> there is no free market here whatsoever. The fact that BYD's cost structure is what it is is the direct result of Chinese industrial policy.

Aside from countless other ways before and after this, the US government handed over tens of billions of dollars in cash to GM and Chrysler in 2008 and 2009.

[rsanek]

Not quite -- those were loans that were largely repaid, quite different from the subsidies CCP uses for its industrial base.

ProPublica has a nice tracker that shows the loans: https://projects.propublica.org/bailout/

You can also see how subsidies compare between China and OECD in this recent doc. In autos, China subsidizes to the tune of 2-3% of revenue vs. <0.5% for North America. https://www.oecd.org/en/data/dashboards/magic-database-indus...

[CPLX]

Great story. A couple of billion dollars 18 years ago is not an industrial policy.