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Originally Posted by RainMaker
What form of capitalism bans businesses at the behest of inferior businesses in return for political donations? What type of capitalism uses tax dollars for credits to make a company's product cheaper? And what form of capitalism spends billions to build up a company's infrastructure for them at taxpayer expense?
Abandoning the semblance of a free market isn't the issue here (we know American doesn't really care about that), it's turning our back on fighting climate change which was a key part of someone's Presidential campaign.
The goal of the Biden administration has been to get a $25k EV to market. It's central to their plan to see widespread adoption of EVs to combat climate change. They've offered subsidies and credits to help achieve that. It's a huge part of his landmark infrastructure bill.
But Detroit failed miserably to make it happen. China has succeeded at that and builds an EV that can meet that price point. Banning that shows he doesn't care about climate change. It was all about handouts to automakers. And this is just another bailout in a long line of bailouts for that industry. And consumers suffer the consequences having to pay more money for an inferior product.
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Why do you think China succeeded? Why is Temu successful? The state subsidizes the product to grab the market. It doesn't need to make a profit if it's getting market share. State owned capitalism isn't the same as the state offering incentives to private companies to bring a product to market. Protectionist behavior has its place. What makes you think that only automakers benefit? I know I don't know everything about the auto industry, but I know enough to know that there are gains made across the board that aren't just handouts to businesses. I have a hard time believing the reasons for such actions are as simple as you say.