Why would I buy a car from any country whose raison d'être is to to undermine my way of life, and and the economy of the country and potentially the continent on which I live?
it is odd that people still follow what this clown says, been seeing him for 2 years parroting russia economy doomed and its now better than any EU countries... now this clown says that tariffs hurt china when most people fail to understand that tarifs is aimed at domestic buyers which basically increases prices of goods since US cannot make cheaper than china ... how does he even run a channel like this maybe his target audience is just stupid 😅
They did it with steel production, they did it with solar panel production, they did it with rare earth processing and they want to do it with EVs. Every country should divest out of China.
It's allready happening. FDI in China is down 90%. The only idiots not seeing the writing on the wall is the Germans, with VW and BASF leading plowing in billions when everyone runs away. Just watch them beg for a bailout once a Taiwan invasion freezes all their invested capital...
I am a mechanical engineer in the rail industry. The Chinese CRRC rail car manufacturer (which, by the way reverse engineered trains from Bombardier, Alstom, and Siemens and stood their technology) underbid rail cars during subway and light rail cars in the United States. They were able to do this because the CRRC is subsidized by the CCP. UNFAIR BIDDING. In addition, new subway cars and other equipment that they manufactured for the cities of Boston, Chicago and Los Angeles, as well as the State of Pennsylvania have been substandard, not meeting technical specifications and are breaking down. Worse yet, their equipment has proven to be dangerous. I personally, do not like their rail cars high voltage and low Voltage wiring. Future potential fire hazards. In addition, the car body components are substandard. Just imagine riding on a brand new Chinese built Boston subway car and the seat that you’re sitting on collapsing to the floor. Happened! In all the cities involved, the mean distance between mechanical failures is very low. The transit executives in these cities thought they were getting a bargain by going to the Chinese, the “lowest bidder.” In the long run, they are going to pay a lot more just to maintain this Chinese manufactured “junk.” In addition, technicians in one of these cities found out that the Chinese placed spyware in their subway car systems. Now the Chinese CRRC are BANNED from ever bidding in the United States in the future. By the way, Joe Blogs did not mention that the very poor engineering and lack of safety during manufacturing has caused many Chinese EVs automobiles to catch fire. Some people in China have died being trapped in these vehicles. Of course, the CCP covers this up. And GOD FORBID one of their subway cars catches fire while carrying hundreds of commuters in a tunnel. Take it from an engineer. I’d stay away from any EVs that they manufacture.
@@kimberlysheridan5530Yep, the latest one is that the tanker trucked used to move waste chemicals are turned around and used to transport cooking oil without first cleaning out the tanks!
@@howiescott5865Don't be a dummy and get a car you can't park anywhere. Get a pickup that's a reasonable size and don't jack it up so high that you could back over a pedestrian without noticing
If China wasn't subsidizing their manufacturing while over producing items and dumping it in other markets affecting their producers, they wouldn't have a problem. Instead they subsidize stuff like steel and sell it cheaper then it can be produced elsewhere. America had a serious problem back in the early 2000s when China was dumping steel and it was putting a strain on US steel mills. It actually bankrupted a few of them like Bethlehem Steel and National Steel Corp. They were selling inferior steel at almost half the price. Had tariffs and limits not been put in place, America would no longer have steel producers....which is a National Security risk. Could you imagine things in Taiwan getting out of hand and China refusing to sell steel to the US after they put our steel mills out of business??? What China can do is not continue to produce items beyond market demand then under cut companies in their home country too KEEP THEIR WORKERS GOING and hurting workers in other countries.
It’s worse than that because China’s problem right now (and the main reason they’re dumping their excesses in other countries to begin with) is the decline in demand in China due to the banking crash triggered by the popping of the housing bubble. In other words, the Chinese people have a declining purchasing power. That could also be the reason why they specifically targeted pork because it is something that the Chinese people will buy no matter what. Remember, tariffs at the end of the day are taxes on their own people.
@@rhyanjill what's really silly is some of the producers of pork....are already owned by China like Smithfield Pork and Meat. I'm well aware of their banking crisis and housing crisis, but choose to undermine other countries for what the corrupt there did. We are on the verge of a banking crisis again here in America. Commercial real-estate and properties are being given back to the banks by investors like Black Rock, because they can't get enough rental occupancy to pay the mortgage on these office buildings. Not to mention the liquidity problem of banks who are tied into long term bonds they bought a few years ago with depositors money and now depositors wanted a higher yield on their money and pulling funds causing failures last year, and may still here in the near future. I just don't see America subsidizing products then dumping them over there. In fact, items such as Tesla and Apple have to be produced over there. The CCP gets a 51% stakehold, and all intellectual property is fair game they share with their other producers who are even more % owned by the CCP, like all these electric car companies. The research that cost Tesla and Apple money, being given to them for free, giving them an extra leg up to begin with. China knows nothing about fair labor practices and only thinks of itself, in fact hoping it causes strain on other countries. Why do with a missle, what you can do with stealing technology.
@@amraceway Mass producing cheap, easily broken counterfeit products aren’t exactly what I would call as being “good at producing things”. But even if I give you that leeway, the reality is that they have a diminishing purchasing power in China, which leads to an overproduction issue which simply cannot be absorbed by other markets without tanking their own industries. The incentives given to overproduction of goods by the CCP lead to the mass production of unnecessary products with zero regard to quality too. You only need to look at the quality of infrastructure in China to tell that a lot of corners have been cut. It doesn’t benefit other markets and it doesn’t benefit the Chinese people. Well, it benefits the Chinese provincial governments because they get paid and promoted based on meeting GDP growth targets. But just like how the housing bubble has popped in China, so too is its manufacturing because at the end of the day, it’s all replaceable.
China is dependent on maize and beans from the USA and Brazil to feed their pigs and chickens. China will see increased domestic prices on meat if they escalate the trade war of food.
My thought as well. Might be that alt-right groups will try to use it ("why can't we buy cheap chinese cars if we want") because they love authoritarian countries these days.
it is odd that people still follow what this clown says, been seeing him for 2 years parroting russia economy doomed and its now better than any EU countries... now this clown says that tariffs hurt china when most people fail to understand that tarifs is aimed at domestic buyers which basically increases prices of goods since US cannot make cheaper than china ... how does he even run a channel like this maybe his target audience is just stupid 😅
yeah im pretty sure no one has any clue, the banking or finance institutions be it western or asian dont have any clue, like its not in their economic interests to know what is going on, none of the government agencies or China's agencies or spy agencies, i mean they are interested in everything but they wouldnt like to know what is really going on in their own economy......like they have collated and gathered massive amounts of information everywhere.....even if they do not have a exact figure, they probably have a good idea what is going on and can infer from the data they collected, digitally or otherwise, i bet u every economic activity out there there are millions upon millions of individuals observing, gathering data and analysing because they want to be at the top of the game or competition, no instead we should listen to you and a bunch of youtubers, if u say no one knows then it must be true..... lmao even during the 2008 financial crisis there were some people who sniffed out the .......the data is all there, its just a matter of somebody taking the time to pour through it when no one else did..... its just like how warren buffet does his investing in his early days just spend hours upon hours reading boring prospectus and data.....
the sum that China circulatin we know, an thats what makes them the second biggest,, just because you have a big buisnes, it donst mean that the numbers are good
@@domagojmendas1468 I have a chinese made EV. I have owned it for 30 months. Been a great vehicle. Incremental cost of operating per mile is $0.05. Build quality blows tesla (regardless of point of manufacture) out of the water.
it is odd that people still follow what this clown says, been seeing him for 2 years parroting russia economy doomed and its now better than any EU countries... now this clown says that tariffs hurt china when most people fail to understand that tarifs is aimed at domestic buyers which basically increases prices of goods since US cannot make cheaper than china ... how does he even run a channel like this maybe his target audience is just stupid 😅
@@robertnewhart3547 i do not think the fool understands tarifs are aimed at domestic population not at china, commodities will always find a different market just like russian oil, tarifs simply mean inflation for domestic... but let the idiot realize that the hard way...that the real enemy is their govn
@@robertnewhart3547 I don't know many people that go out and personally dig a grave for themself before dying, no. Well, other than people about to be genocided, so it is consistent for China, I suppose.
Really interesting. China is, however, at an incredibly vulnerable moment in time, with 21% ** youth unemployment, $7 trillion in debt on 1.2 billion housing units built (3 billion beds!) but most critical is the flight of FDI as the West diversifies production across and also out of Asia. Chinese productivity is below Mexico and Chinese wages have risen significantly enough to make it less competitive. Present industrial base in China is as a result of industrial inertia and is nosing into the sunset period before it experiences de-industrialisation… does it have the service sector to replace it? ** China changed how this data is measured in May 24 to revise this to a current 12% officially.
Add to that about 2/3 of the Chinese population will retire over the next 10 years so they not only won't have cheap labor but no one to hire. Chinese couples are producing 0.7 children so it just keeps getting worse.
china has a total wealth/networth of nearly 90 trillion USD, up from 4 trillion in 2000.....CHina doesnt need western fdi lmao, China's total foreign investment in africa and south america is already twice as much as USA and EU combined..... lord........if anything US needs China to buy her US debt and treasuries.......which she has been dumping by the hundreds of billions.....along with 43 other countries dumping us debt and paring down their exposure to the usd....... sigh do people still think China is poor lmao, they are in for a rude awakening, in a mere 20 years China's total wealth/assets/networth has grown to nearly 80% of USA.......just think about that for a second, within a span of a mere 2 decades, a consolidation of wealth and capital almost 80 percent the size of USA's magically appeared in the middle of asia.....what took US like what?a century or longer since the great depression to accumulate? CHina can afford to buy the entirety of Japan over 4 times today.....if its possible to buy a country...back in 1999 China had nothing, it was completely poor and destitute i would be worried about USA, i mean 34b trillion debt, 1 trillion debt interest service payment a year, 1.7 trillion annual budget deficit? thats us debt going up by 1 trillion every 100 days....and with China and Japan and 43 other countries dumping US treasuries and de dollah dollah yall..... and more and more countries joining brics and pivoting away from us denominated trade...... mountain of debt that is growing by almost 10 billion every single day.....and the world not wanting us debt anymore and u wonder why inflation is truly out of control in america...... is China having the same inflation problem?i doubt it.
It's nice to see someone else who sees China's predicament. Add the wasting on military spending and its repercussions, and you see that China is in for a rough time. I see the problem as a lack of qualified leadership. They are still fighting the communist vs capitalist fight from 100 years ago.
@@kf6pfk there is a great anecdote doing the rounds in the White House after a recent ish phone call between Biden and Xi, where Biden asked Xi if they had fixed the weeks of rolling power outages in Beijing… Xi didn’t have a clue what Biden was talking about because no one can tell Xi bad news. Xi is such a despotic leader all potential leadership candidates are culled… there isn’t just bad present leadership, he has ensured there are no succession leaders after him…
Dolt - no one does that. China steals everything. They backwards engineer everything they produce. It has been driving "greedy corporations" crazy for decades.
Plenty of blame to go around. Remember it was the Gov who signed the Free Trade Agreements with China, forcing American companies to compete with China which at that time was impossible to do on price. Once the Gov forced the FTA, companies had no chance.
I'm surprised Chinese EVs meet US standards. Who are the dealers for Chinese EV cars? China has a reputation of shoddy construction and their EV seem to have a lot of safety problems in China .... catching fire and burning up.
@@jkuntz67I would never buy a Tesla but their quality is far superior in design and engineering than Chinese plus a totally different battery configuration. Anyone that buys a Chinese EV gets what they deserve, cheap uneducated tree huggers.
@@ettoreatalan8303 China is much more advanced in electric car technologies that any other countries that why they are Shivering for their local manufacturers and rise tariffs depriving user to enjoy high tech affordable car.....
China putting Tariffs on US Pork? They own the largest Pork Company in the US, Smithfield Pork so they'll be affecting their own bottomed line, coolest thing I've seen China do in years!
Joe, you talk about free trade. But trade with china is not free. Because the Chinese government heavily subsidizes so many industries. The end result of "free trade with China" is American and European businesses becoming non-competitive and going out of business. Once china has a monopoly on a particular item, they can charge whatever they want. Or worse, they can use that monopoly as a weapon. Which is what they are currently doing with rare earth metals. Turfs will help Chinese evis. Pricing return to a realistic level which is good for all economies even though it might cause consumers in other countries to pay more for imported vehicles.
It's not only G7 may put higher tariffs but I think part of BRICS may put a good rate of tariffs for China's product bc very few countries want to kill their own domestic products in exchange for China's product..
I urge you to be cautious when quoting Chinese export sales numbers. What they've been doing is exporting huge numbers of cars into Europe where they're holding them at shipping sites. They're not selling them they're exporting them in addition to the huge numbers that they're storing in Open Fields in China proper. Because of all the subsidies from the Chinese government sub manufacturers find a cheaper to register the car and show it is sold get the rebate and they abandon the vehicle in large fields in and around the factories. There were several other sites that have documented this. So be careful when quoting Chinese export numbers because the ones the government gives are not accurate.
I have heard horror stories about chinese electric vehicles. Complete battery failures after only a few years and burned out electrical systems that cannot be repaired. I would not risk buying a chinese vehicle. The chances for a major failure is very high.
I'm sorry but it is no longer true that the car industry would not get huge bailouts. Our car industry is highly inefficient because it has been supported in bad business practices for decades.
And those Biden subsidies for USA EV‘s went nowhere with the Big Three. Search on “ Automakers from Ford and GM to Mercedes-Benz, Volkswagen and Aston Martin are scaling back or delaying their electric vehicle plans.“
What’s the use of lower prices if no one has a job. Because all the work has gone to China? It has to be viewed in that light too. It’s not just a matter of prices and inflation. It’s also a matter of jobs. In the United States, the steel industry was decimated by subsidised cheap Chinese steel. And thousands of jobs were lost and whole towns destroyed.
that is exactly what it is all about. If China is allowed to flood the European market, then we will lose 1000s of jobs. So it has to be stopped, doesn't matter if it is fair or not.
@@vincentczz actually its called mercantilism. Where the parent company destroys any native industry the child country could have. It’s what Great Britain did to the American colonies. And how did that turn out? When you have the entire economy of a country supporting a specific industry, it creates a situation where a “capitalist” company can’t compete. Cut throat competition is illegal in the United States.
Screw buying electric cars! Three houses in my neighborhood have burned down in the last year from electric car fires in the garage. I will stick with a Toyota hybrid.
Given that the Chinese economy is in the process of melting down and fewer people can afford European imports, threats to slap tariffs on them are rather empty. Especially since high end retailers are reducing their presence / going out of business there. As for pork, they're dependent on imports to meet their needs. Another empty threat.
The important background to this is also the European response to China's support of Russia in the Ukraine war. This is a tacit declaration of hostile intent on the part of China and this has increased the level of scrutiny on all of China's activities and has devalued any belief in their neutrality. This has broad ramification for all European and Chinese relations.
Chinese subsidized mail has been a major reason for the large increases in prices at USPS. All that garbage from temu and other sites is costing us a lot.
I cannot see that raising tariffs on electric vehicles from China will have any significant effect on inflation in Europe or the USA. It simply means that fewer of these more expensive cars are purchased so contribution to inflation should remain neutral. Electric vehicles are likely to be for some time, a very minority product in these economies anyway.
Pretty much, I think like maybe 20% of all cars sold in the EU are electric, and about half are from China. These tariffs will just cause factories to be built out in the EU to avoid the tariffs. That's not gonna do much but slow down ev adoption for a year or two, since you know, Germany France and Poland are huge manufacturers in cars
I wonder how the battery fires are going on Chinese cars? They were getting pretty frequent with both the Chinese cars and ebikes. I tend to follow the ebikes more.
I bought Ingco pressure pumps, a highly regarded China Brand and considered the best that China consumer pumps. I bought 8 because I needed them all. In less than 2 years all the 8 are now defective. So I have to buy Goulds Pump even if it is twice the price because my previous Gould Pumps is still running after 10 years. China equipments are junk. Their products are bullshit.
You can live without EVs as normal cars are still cheaper but with food which is a necessity. Ccp without thinking strikee again just like the one child policy
Read Lighthizer"s book, No Trade is Free. A country that loses manufacturing capacity is doomed. Cheap t-shirts & tvs are worth losing good blue collar jobs!
We the consumers are at fault for buying CHEAP. Or small town Atikokan , Ontario is the prime example of going Cheap to get contractors to do major repairs on roads , covert are putting a lot of of inconvenience to the people with not finishing on time . This cost more money for taxpayers . There seems to be no leadership left in this country , and voters just keep on electing politicians who just want a better pension .
China is a large food importer mainly due to their incompetence to produce farming products. That’s unlikely to chance. The Chinese focus is on technology and not on farming.
China’s massive trade surpluses are due to its domestic demand repression meaning it can’t absorb its own production and must dump its excess capacity abroad. Look at Michael Pettis’s work for how this works. Until Chinese consumers’ wages and hence demand rise, they will continue this. The CCP does not 2ant to do this because increased g consumption option would mean reducing the government’s share of GDP and industrial investment and be very painful for politically connected sectors.
Thanks Joe. Buying ev is stupid idea as long insurance is more expensive because the battery when an accident with those cars. too expensive paying every year the insurance bill.
We have to start learning to rely on each other, excluding all the Autocratic country's. We saw what happened when Russia thought the west couldn't survive without them, and if they were right, all of the EU would be eventually under the Russian thumb. We managed to show them who's boss, and we don't want to have to do the same to China. If the autocrats think their system is so great, let them rely on each other for the next 50yrs and see where it gets them. They will probably be like primitives, compared to the rest of the world.
china forgot that free people and free country can change its opinion or politics in blink of eye (ref. Finland and Sweden with NATO). China or any one party country can not do that.
With the amount of cheap Chinese scooters and ebikes catching fire damaging property and at times causing the death of people, what is the safety guarantee for users of Chinese electric cars? I know suing outside of China a Chinese company is a waste of time, so what happens if these electric vehicles catch fire due to poor design or construction? If a Toyota or a Ford cause a safety issue I know there is a method to deal with these issues but I am less confident of what happens when a Chinese company does not meet safety standards.
I've rapidly become a fan of your channel since finding it, especially how you explain the impacts of trade and finance. Would you be able to do a video on Chinese oil imports and how this affects the global oil trade, i've seen you've covered bits before but i'm finding the whole global impact very interesting and how it is tied into the other issues you make about CCPs economic policy.
All things bought from China should have much higher tariffs. They’ve gotten away with selling tons of made in China garbage like led lights or poor quality tracievers that Russia has been using in Ukraine.. literally saw a Russia officer in a video having the exact same cheapo $20 transceiver I have. Everyone pays tariffs but China doesn’t qualify for the break anymore, especially considering they are arming Russia.
The "playing field" has has never really been level. This is such an old controversy. The risk is also a slowing of global trade like the lead up to the great depression of the 1930's. Everyone was protectionist.
Just a general comment that it's awesome you are making these videos and you are doing them with you in front of the camera. Not sure if you still get comments by users for your looks, but I hope those don't have impact anymore. You are awesome as you are.
Cheap>Value. Funny how the news kept saying cheap instead of value. Using the word value instead of cheap is something Walmart learned cause customers don't want "cheap" they want better "value". Your competition is cheap your product has a better value.
Also, China doesn't produce enough food for themselves, they're a net food importer, it's a brilliant move to raise the cost of THEIR FOOD. You don't have to have a new car, you must have food, theyve had famines before, I think they should have about self induced famine just like before. They've started extracting tax out of farmers because of the huge debt and deficit they have at local levels, yet another brilliant strategic move.
I giggled a little bit when you said the company would be on its own if it was in trouble here in the US because I thought back to the 08' crisis when all of the large domestic vehicle manufacturers (except Ford I believe) took very hefty sums of money to keep them afloat (off of the taxpayers)... which is not the case... they got saved by the tax payers just as if it was a subsidy. Funny enough it was told that GM's CEO at the time took 1.6 million USD of that "subsidy" provided by the tax payers to do an office remodel.. lol
You have to wonder what the CCP expected to happen after years of gaming the trade system? Tariffs are not a good road for the world to follow. We’ll all end up the poorer for the tit for tat. PS - Chinese companies will dominate vehicle trade in countries that don’t have a local automobile manufacturing industry like New Zealand, Peru, etc.
The good news is that global recession is the only thing that reduces the burning of fossil fuels. The developed world shifting to electric cars shifts the burning of fossil fuels to the developing world, but does not decrease it.
Hi Joe. Love your work, just want to ask if you could adjust your mike or mix ? It's just that no matter what level of volume I have my phone on your voice comes across really hard and hurts my ears, yeah I know take this cement pill, any way that's my input thanks for the great analysis Ps never noticed the sonic boom until one day I was wearing earbuds and I nearly died of fright heh heh. Good one:) , all the bess Joe
People should look at how EVs are doing in China. They will see that batteries are catching fire. We also see that over production may increase in China because Western corporations are fleeing and many have already left. Jobs are getting scarce and many stores and small businesses have closed. The economy is tanking due to the real estate bubble burst. China is looking to build jobs in the industries it controls, like EVs. They have purposely built over capacity and are trying to shove poorly constructed EVs onto the world market. Boeing has learned, to their detriment, that Chinese products are NOT built to spec, and contracts are not followed (including those made with other Chinese!). Titanium based parts in critical structural parts have been cheapened by drilling holes in the sheets used in construction of the Jets they had built there. Corrupt inspectors turn a blind eye. Boeing traded it’s sterling reputation for a some short term profit for shareholders. Tariffs should stay until corporations again put safety and reliability over profits.
By WTO rules, anti-dumping tariffs are fair game. These prevent the selling of items at a loss in order to undercut local production. The tariff helps ensure a level playing field. Tit-for-tat tariffs, which China wants to introduce, are not allowed. They are primarily a political tool, essentially an attempt to coerce another country into making trade more favourable for the bully. If the USA or EU went to the WTO asking for arbitration, China would find an unfavourable ruling on both sets of tariffs. The process is unfortunately rather slow. China's tariffs on Australian coal and wine were an example.
Everybody has to agree to play by the same rules... If China subsidizes everything (and it does) then Chinese companies (owned by the CCP) can sell at a lower price than any competition and they drive all foreign competitors out of business leaving them to monopolize whatever market were talking about. THIS IS UNACCEPTABLE. If you wanna be a part of the global "free market" you have to agree to play by the rules that are established by said market, it's that simple. If you're going to subsidize everything and undercut everyone to destroy their industries, well, for a long time everyone was ok with that but now the world seems to have woken up and realized that hey, we no longer make ANYTHING and if China wants to stop selling us (insert the name of some product) were fukt.
Yep. China want to have it's cake and eat it too. China wants to benefit from the growth and opportunities of capitalism while retaining the controls and unfair advantage communism provides.
The problem with buying a Chine product that is supposed to be used for several years and cost thousands of dollars is the concern about reliability and also the ability to maintain/repair the product overtime, considering the political-economic relationships. A risky purchase for people in the West despite the lower price temptations.
Two brands of Chinese internal combustion engine cars available for sale here in Australia are Great Wall Motor Corporation and MG. In the case of MG a Chinese company bought the remains of the British MG company and so could use the name. Yes they do have a reputation for being cheap. Meanwhile one if my family members drives a BYD.
I live in California and own a Geely (in the form of a Polestar 2). Great car. Let's be honest though, the tariffs are about China supporting Russia, their illegal behavior in the SCS and their refusal to acknowledge the sovereignty of Taiwan. I am in support of the 100% tariffs we have here in the US, so long as the Chinese persist in the above activities. If it were just subsidies, I *would not* support the tariffs as low cost BEVs are needed and if China wants to help pay to get us switched to BEVs out of their pockets, that's fine with me. If we (as a country) want to prevent the Chinese auto manufacturers erodinng domestic makers market shares, then the proper response is to *match* the Chinese subsidies for our manufacturers and not impose tariffs. It's up to the Chinese. If they want to behave as responsible members of the global community and not threaten their neighbors with physical violence, then all the tariffs would be brought down (the proof that we in the US *will* do that, is because for 20 years we *did* do that).
You are serioisly delusional if you think us adheres to intentional law. Look at how they treat native americans, blacks, japanese internment concentration camps during ww2. Russia is in ukraine for the same reason Cuba was embargoed for hosting soviet nukes. Its not hard to understand
There is NO economy of scale in regards to BEV production except for 2 companies, BYD and Tesla, and they are BARELY at that point. So that statement from the CCP is total lies. They were giving subsidies DIRECTLY TO companies in violation of trade agreements being part of the WTO AND they hold stock in different companies BYD being one of those. At one point the subsidies were PER VEHICLE MADE by a manufacturer and was paid after production was shown, so a company didn't have to sell a vehicle. So, if a company made a BEV as cheap as possible they MADE MONEY from the subsidies, never selling a single vehicle. There are graveyards of BEV in China in a few provinces, with hundreds of thousands of them parked in forest or near cities, rotting away.
You didn't point out what the balance of not putting tarrifs, what the goal of the Chinese car industry is, and what the implications of them achieving their goals of market domination in other countries economies are.
One just has to go to Walmart and experience that Chinese goods are junk. There is no reason to suggest that higher end products are any better. They just don't have the mentality and the skills needed to produce high quality.
What it boils down to is the U.S., Canada and the EU have a huge number of well paid job tied to auto manufacturing and they are not going to let China auto companies destroy these jobs. Countries like Australia that don't produce cars will probably be happy to buy Chinese cars.
My concern is the lack of parts and service for Chinese cars. In 10 years will we have millions of abandon EV, similar to China, due to inability for repair?
Why would I buy a car from any country whose raison d'être is to to undermine my way of life, and and the economy of the country and potentially the continent on which I live?
America insists ;-)
Well, you buy all your electronics from them....
They are cheap. Which makes a lot of people forget about morals and long-term interests
it is odd that people still follow what this clown says, been seeing him for 2 years parroting russia economy doomed and its now better than any EU countries... now this clown says that tariffs hurt china when most people fail to understand that tarifs is aimed at domestic buyers which basically increases prices of goods since US cannot make cheaper than china ... how does he even run a channel like this maybe his target audience is just stupid 😅
@@PalleRasmussen more moral than the US govn it seems...as current state of affairs
They did it with steel production, they did it with solar panel production, they did it with rare earth processing and they want to do it with EVs. Every country should divest out of China.
ah ah good luck......
It's allready happening. FDI in China is down 90%. The only idiots not seeing the writing on the wall is the Germans, with VW and BASF leading plowing in billions when everyone runs away. Just watch them beg for a bailout once a Taiwan invasion freezes all their invested capital...
I am a mechanical engineer in the rail industry. The Chinese CRRC rail car manufacturer (which, by the way reverse engineered trains from Bombardier, Alstom, and Siemens and stood their technology) underbid rail cars during subway and light rail cars in the United States. They were able to do this because the CRRC is subsidized by the CCP. UNFAIR BIDDING. In addition, new subway cars and other equipment that they manufactured for the cities of Boston, Chicago and Los Angeles, as well as the State of Pennsylvania have been substandard, not meeting technical specifications and are breaking down. Worse yet, their equipment has proven to be dangerous. I personally, do not like their rail cars high voltage and low Voltage wiring. Future potential fire hazards. In addition, the car body components are substandard. Just imagine riding on a brand new Chinese built Boston subway car and the seat that you’re sitting on collapsing to the floor. Happened! In all the cities involved, the mean distance between mechanical failures is very low. The transit executives in these cities thought they were getting a bargain by going to the Chinese, the “lowest bidder.” In the long run, they are going to pay a lot more just to maintain this Chinese manufactured “junk.” In addition, technicians in one of these cities found out that the Chinese placed spyware in their subway car systems. Now the Chinese CRRC are BANNED from ever bidding in the United States in the future. By the way, Joe Blogs did not mention that the very poor engineering and lack of safety during manufacturing has caused many Chinese EVs automobiles to catch fire. Some people in China have died being trapped in these vehicles. Of course, the CCP covers this up. And GOD FORBID one of their subway cars catches fire while carrying hundreds of commuters in a tunnel. Take it from an engineer. I’d stay away from any EVs that they manufacture.
Wow!
I remember similar scandals coming out of China regarding pet food and baby formula. They could scimp on anything!
@@kimberlysheridan5530Yep, the latest one is that the tanker trucked used to move waste chemicals are turned around and used to transport cooking oil without first cleaning out the tanks!
Tofu manufacturing. Big problem in china. Look at the Three Gorge Dam. It’s bowing out.
@@JimCOsd55 You are not even up to date! The latest is that sewage trucks deliver drinking water! Search for it and you shall find! 😄
China’s been dumping for years but we’ve been too stupid to notice or do anything.
As long as the Big Guy gets his 10% all is well.
@@donaldcarey114
Yeah, trump loves money from Chin far too much.
The tariffs on Chinese vehicles will NOT result in higher costs for US and European consumers ... if we never planned to buy them in the first place.
@@pbr4814 I'm American and I'm shopping for a BIG block pickup.
I wouldn't trust their batteries not to combust in my garage.
@@E3ECO Dont speak about things you dont know about.....
@@howiescott5865Don't be a dummy and get a car you can't park anywhere. Get a pickup that's a reasonable size and don't jack it up so high that you could back over a pedestrian without noticing
@@jkuntz67 You'd have to be an [youtube censored slur] to buy a Chinese EV.
If China wasn't subsidizing their manufacturing while over producing items and dumping it in other markets affecting their producers, they wouldn't have a problem. Instead they subsidize stuff like steel and sell it cheaper then it can be produced elsewhere.
America had a serious problem back in the early 2000s when China was dumping steel and it was putting a strain on US steel mills. It actually bankrupted a few of them like Bethlehem Steel and National Steel Corp. They were selling inferior steel at almost half the price. Had tariffs and limits not been put in place, America would no longer have steel producers....which is a National Security risk.
Could you imagine things in Taiwan getting out of hand and China refusing to sell steel to the US after they put our steel mills out of business???
What China can do is not continue to produce items beyond market demand then under cut companies in their home country too KEEP THEIR WORKERS GOING and hurting workers in other countries.
It’s worse than that because China’s problem right now (and the main reason they’re dumping their excesses in other countries to begin with) is the decline in demand in China due to the banking crash triggered by the popping of the housing bubble. In other words, the Chinese people have a declining purchasing power. That could also be the reason why they specifically targeted pork because it is something that the Chinese people will buy no matter what. Remember, tariffs at the end of the day are taxes on their own people.
@@rhyanjill what's really silly is some of the producers of pork....are already owned by China like Smithfield Pork and Meat.
I'm well aware of their banking crisis and housing crisis, but choose to undermine other countries for what the corrupt there did. We are on the verge of a banking crisis again here in America. Commercial real-estate and properties are being given back to the banks by investors like Black Rock, because they can't get enough rental occupancy to pay the mortgage on these office buildings.
Not to mention the liquidity problem of banks who are tied into long term bonds they bought a few years ago with depositors money and now depositors wanted a higher yield on their money and pulling funds causing failures last year, and may still here in the near future.
I just don't see America subsidizing products then dumping them over there. In fact, items such as Tesla and Apple have to be produced over there. The CCP gets a 51% stakehold, and all intellectual property is fair game they share with their other producers who are even more % owned by the CCP, like all these electric car companies. The research that cost Tesla and Apple money, being given to them for free, giving them an extra leg up to begin with. China knows nothing about fair labor practices and only thinks of itself, in fact hoping it causes strain on other countries. Why do with a missle, what you can do with stealing technology.
@@rhyanjill They are simply better at producing things. Shock horror a government that helps its own industry.? What is the world coming to!
@@amraceway Mass producing cheap, easily broken counterfeit products aren’t exactly what I would call as being “good at producing things”. But even if I give you that leeway, the reality is that they have a diminishing purchasing power in China, which leads to an overproduction issue which simply cannot be absorbed by other markets without tanking their own industries. The incentives given to overproduction of goods by the CCP lead to the mass production of unnecessary products with zero regard to quality too. You only need to look at the quality of infrastructure in China to tell that a lot of corners have been cut. It doesn’t benefit other markets and it doesn’t benefit the Chinese people. Well, it benefits the Chinese provincial governments because they get paid and promoted based on meeting GDP growth targets. But just like how the housing bubble has popped in China, so too is its manufacturing because at the end of the day, it’s all replaceable.
Tariffs on pork? Please, China imports so much food, they can’t even produce enough food for themselves without being reliant on imported food.
Safe and genuine edible food not fake ....
The price of food just went up for China's starving population.
China is dependent on maize and beans from the USA and Brazil to feed their pigs and chickens. China will see increased domestic prices on meat if they escalate the trade war of food.
@@miriamwang9200 Do you think that McDonald's is real food? You recall, Sarah Palin's dollar menu plan to feed the poor in the USA?
they are willing to cut their lifeline like they cut their enersecurity banning import of australia coal
If China ban the import of Pork, they go hungry while Europe Banning EV which isn't affecting them at all. China is in a disadvantage.
Amen. Only reason the EU has pork export to China is ASF.
My thought as well. Might be that alt-right groups will try to use it ("why can't we buy cheap chinese cars if we want") because they love authoritarian countries these days.
Truth
The did this with Australian iron ore a few years ago. Then they had no ore….
@@lostlogic6911 as a vegetarian, I can assure you that consuming pork is not necessary for either survival or good health.
Since china is supporting russia we need to reduce our dependance on china, disinvest in china until they play our game
They aren't going to submit to Western hegemony. They are playing their own game.
@@michaelwilson9921If we actually stopped trading with them they would change their tune
Indeed, though that is just one reason out of a encyclopedia worth.
@@michaelwilson9921 Everyone is, that doesn't mean that we shouldn't be playing our own like you might be implying. It's ever evolving.
it is odd that people still follow what this clown says, been seeing him for 2 years parroting russia economy doomed and its now better than any EU countries... now this clown says that tariffs hurt china when most people fail to understand that tarifs is aimed at domestic buyers which basically increases prices of goods since US cannot make cheaper than china ... how does he even run a channel like this maybe his target audience is just stupid 😅
Everyone says, "it's the second largest economy in the world." But no one knows the real honest data. The truth is lost.
You knew it was about to fall apart there when warren buffet and black rock divest
yeah im pretty sure no one has any clue, the banking or finance institutions be it western or asian dont have any clue, like its not in their economic interests to know what is going on, none of the government agencies or China's agencies or spy agencies, i mean they are interested in everything but they wouldnt like to know what is really going on in their own economy......like they have collated and gathered massive amounts of information everywhere.....even if they do not have a exact figure, they probably have a good idea what is going on and can infer from the data they collected, digitally or otherwise, i bet u every economic activity out there there are millions upon millions of individuals observing, gathering data and analysing because they want to be at the top of the game or competition, no instead we should listen to you and a bunch of youtubers, if u say no one knows then it must be true.....
lmao even during the 2008 financial crisis there were some people who sniffed out the .......the data is all there, its just a matter of somebody taking the time to pour through it when no one else did.....
its just like how warren buffet does his investing in his early days just spend hours upon hours reading boring prospectus and data.....
the sum that China circulatin we know, an thats what makes them the second biggest,, just because you have a big buisnes, it donst mean that the numbers are good
True. I have little faith in their numbers. There is no third-party verification.
@@E3ECO Their numbers don't mean anything to me. Who cares?
About time the US and the EU woke up from their long deep slumber!
Luckily Brics countries are there to help China out. Oh wait they are all also implementing large tariffs.
Did you mis-spell "pricks"?
they all put up brick walls against each other. (could that be the real meaning why they call it brics
I only know of Turkey.... Any other?
@@matsmcmats India, Brazil & SA have all also raised tariffs on EV XOR steel.
Funny thing to start brics you must have money 😂😂😂😂😂 China 😂😂😂😂😂😂
To buy a chinese car, electric or otherwise, is extremely stupid.
An EV, no matter where it comes from, is extremely stupid to buy
@@domagojmendas1468 I have a chinese made EV. I have owned it for 30 months. Been a great vehicle. Incremental cost of operating per mile is $0.05.
Build quality blows tesla (regardless of point of manufacture) out of the water.
@@thoos192
you have experience in making stupid statements.
@@ursodermatt8809 Because buying depreciating assets with shitty quality (especially Teslas) are so smart!
With demographics of China, Buying any durable good may not have the service train to support that item for the intended life of that item IMHO
Those Chinese EVs have been spontaneously combusting lately. People should be wary of those vehicles.
China: If you don't buy our knockoff flammable EVs for cheap, we're gonna start eating more beans and less pork!
OK China suit yourself 😅
which is more important, food or EVs .....?
They have to import soya and animal feedstuffs.
Even Teslas are shit, one of the lowest ratings of all regarding quality. I would not buy an EV even under gun threat, no matter where it was produced
Go somewhere else china, and take TEMU with you!!!
chi Na😂 not china
Tick-tock toooooo
Temu has been discovered to steal user's data in the Philippines and other countries. It's likely it does it to everywhere else.
Go ahead CCP dig your own hole more please!
it is odd that people still follow what this clown says, been seeing him for 2 years parroting russia economy doomed and its now better than any EU countries... now this clown says that tariffs hurt china when most people fail to understand that tarifs is aimed at domestic buyers which basically increases prices of goods since US cannot make cheaper than china ... how does he even run a channel like this maybe his target audience is just stupid 😅
As opposed to digging "Your somebody's else's grave"? I'm confused.
@@robertnewhart3547 i do not think the fool understands tarifs are aimed at domestic population not at china, commodities will always find a different market just like russian oil, tarifs simply mean inflation for domestic... but let the idiot realize that the hard way...that the real enemy is their govn
@@robertnewhart3547
I don't know many people that go out and personally dig a grave for themself before dying, no.
Well, other than people about to be genocided, so it is consistent for China, I suppose.
@@robertnewhart3547 As opposed to not digging your own grave.
Really interesting. China is, however, at an incredibly vulnerable moment in time, with 21% ** youth unemployment, $7 trillion in debt on 1.2 billion housing units built (3 billion beds!) but most critical is the flight of FDI as the West diversifies production across and also out of Asia. Chinese productivity is below Mexico and Chinese wages have risen significantly enough to make it less competitive. Present industrial base in China is as a result of industrial inertia and is nosing into the sunset period before it experiences de-industrialisation… does it have the service sector to replace it?
** China changed how this data is measured in May 24 to revise this to a current 12% officially.
Add to that about 2/3 of the Chinese population will retire over the next 10 years so they not only won't have cheap labor but no one to hire. Chinese couples are producing 0.7 children so it just keeps getting worse.
china has a total wealth/networth of nearly 90 trillion USD, up from 4 trillion in 2000.....CHina doesnt need western fdi lmao, China's total foreign investment in africa and south america is already twice as much as USA and EU combined.....
lord........if anything US needs China to buy her US debt and treasuries.......which she has been dumping by the hundreds of billions.....along with 43 other countries dumping us debt and paring down their exposure to the usd.......
sigh do people still think China is poor lmao, they are in for a rude awakening, in a mere 20 years China's total wealth/assets/networth has grown to nearly 80% of USA.......just think about that for a second, within a span of a mere 2 decades, a consolidation of wealth and capital almost 80 percent the size of USA's magically appeared in the middle of asia.....what took US like what?a century or longer since the great depression to accumulate?
CHina can afford to buy the entirety of Japan over 4 times today.....if its possible to buy a country...back in 1999 China had nothing, it was completely poor and destitute
i would be worried about USA, i mean 34b trillion debt, 1 trillion debt interest service payment a year, 1.7 trillion annual budget deficit? thats us debt going up by 1 trillion every 100 days....and with China and Japan and 43 other countries dumping US treasuries and de dollah dollah yall.....
and more and more countries joining brics and pivoting away from us denominated trade......
mountain of debt that is growing by almost 10 billion every single day.....and the world not wanting us debt anymore
and u wonder why inflation is truly out of control in america......
is China having the same inflation problem?i doubt it.
It's nice to see someone else who sees China's predicament. Add the wasting on military spending and its repercussions, and you see that China is in for a rough time. I see the problem as a lack of qualified leadership. They are still fighting the communist vs capitalist fight from 100 years ago.
@@kf6pfk there is a great anecdote doing the rounds in the White House after a recent ish phone call between Biden and Xi, where Biden asked Xi if they had fixed the weeks of rolling power outages in Beijing… Xi didn’t have a clue what Biden was talking about because no one can tell Xi bad news. Xi is such a despotic leader all potential leadership candidates are culled… there isn’t just bad present leadership, he has ensured there are no succession leaders after him…
Riots are breaking out all over the country. The are not doing well.
I wouldn't buy one of those fire traps on wheels
No nation has a right to export products and services to any other nation. That’s a privilege.
WTF member states, including China, have the privilege.
This is what happens when you send your trade secrets overseas for temporary greater profits.
This is the fault of greedy corporations.
Dolt - no one does that. China steals everything. They backwards engineer everything they produce. It has been driving "greedy corporations" crazy for decades.
Plenty of blame to go around. Remember it was the Gov who signed the Free Trade Agreements with China, forcing American companies to compete with China which at that time was impossible to do on price.
Once the Gov forced the FTA, companies had no chance.
They should have left China long ago history has proven all Authoritarian Regimes have corrupt evil intentions
This was a security issue. We did that to break China away from the Soviet Union in the 1970's.
Yes I been saying that for years
I'm surprised Chinese EVs meet US standards. Who are the dealers for Chinese EV cars? China has a reputation of shoddy construction and their EV seem to have a lot of safety problems in China .... catching fire and burning up.
i think you spoke about tesla car......
@@jkuntz67I would never buy a Tesla but their quality is far superior in design and engineering than Chinese plus a totally different battery configuration. Anyone that buys a Chinese EV gets what they deserve, cheap uneducated tree huggers.
I'm even more surprised that Chinese EVs meet EU standards.
@@ettoreatalan8303 China is much more advanced in electric car technologies that any other countries that why they are Shivering for their local manufacturers and rise tariffs depriving user to enjoy high tech affordable car.....
@@jkuntz67or the US n Eu are terrified how advanced Chinese ev technology is, thus impose the high tariffs
china "exporting" to hong kong is like the us exporting to hawaii.
Exporting the CCP fascist.
China putting Tariffs on US Pork? They own the largest Pork Company in the US, Smithfield Pork so they'll be affecting their own bottomed line, coolest thing I've seen China do in years!
yhealso put 200% tariffs in Taiwanese chips and ICBMs made in the USA! What a joke!
Joe, you talk about free trade. But trade with china is not free. Because the Chinese government heavily subsidizes so many industries. The end result of "free trade with China" is American and European businesses becoming non-competitive and going out of business. Once china has a monopoly on a particular item, they can charge whatever they want. Or worse, they can use that monopoly as a weapon.
Which is what they are currently doing with rare earth metals. Turfs will help Chinese evis. Pricing return to a realistic level which is good for all economies even though it might cause consumers in other countries to pay more for imported vehicles.
Is that why Apples iphone is $1000?
The free and democratic nations need to cooperate and defend against the evil.
Like in a Hollywood Movie 😂😂
It's not only G7 may put higher tariffs but I think part of BRICS may put a good rate of tariffs for China's product bc very few countries want to kill their own domestic products in exchange for China's product..
I urge you to be cautious when quoting Chinese export sales numbers. What they've been doing is exporting huge numbers of cars into Europe where they're holding them at shipping sites. They're not selling them they're exporting them in addition to the huge numbers that they're storing in Open Fields in China proper. Because of all the subsidies from the Chinese government sub manufacturers find a cheaper to register the car and show it is sold get the rebate and they abandon the vehicle in large fields in and around the factories. There were several other sites that have documented this. So be careful when quoting Chinese export numbers because the ones the government gives are not accurate.
I have heard horror stories about chinese electric vehicles. Complete battery failures after only a few years and burned out electrical systems that cannot be repaired. I would not risk buying a chinese vehicle. The chances for a major failure is very high.
You heard lies and nothing else
The cars are shit . Remember made in China 😂😂😂😂😂😂😂😂😂😂😂😂😂😂
@@DK-ev9dg Says you who only spouts utter lies lol
So just like all the other junk shite they produce then.
@@jeremysmith54565 all ICe vehicles are being recalled in North America. No brand is left behind.
European parking facilities near ports are getting filled to the brink with unsold Chinese cars right now.
Pork does not recieve one euro in subsidy, in EU, but pork producers in China does recieve subsidies also.
Who in his right mind would buy a chinese e car? When every chinese screwdriver brakes after two days of use??
You get what you paid for.....
I'm sorry but it is no longer true that the car industry would not get huge bailouts.
Our car industry is highly inefficient because it has been supported in bad business practices for decades.
Exactly my thoughts
And those Biden subsidies for USA EV‘s went nowhere with the Big Three. Search on “ Automakers from Ford and GM to Mercedes-Benz, Volkswagen and Aston Martin are scaling back or delaying their electric vehicle plans.“
I’ve seen vids of vast fields of brand new EVs and ports refusing to accept more offloads.
I had a bad experience buying a Chinese vehicle with its quality and will not touch them again.
You are lying
@@vincentczz Nope - LVD van, only 5 years old, 100k on the clock, oil started leaking, was told I needed to replace the engine
What’s the use of lower prices if no one has a job. Because all the work has gone to China? It has to be viewed in that light too. It’s not just a matter of prices and inflation. It’s also a matter of jobs.
In the United States, the steel industry was decimated by subsidised cheap Chinese steel. And thousands of jobs were lost and whole towns destroyed.
that is exactly what it is all about. If China is allowed to flood the European market, then we will lose 1000s of jobs. So it has to be stopped, doesn't matter if it is fair or not.
Thats called capitalism
@@vincentczz actually its called mercantilism. Where the parent company destroys any native industry the child country could have. It’s what Great Britain did to the American colonies. And how did that turn out?
When you have the entire economy of a country supporting a specific industry, it creates a situation where a “capitalist” company can’t compete.
Cut throat competition is illegal in the United States.
The exploding Chinese cars? No thank you.
Chinese EV car manufacturers are yet to solve the spontaneous combustion issue...
Screw buying electric cars! Three houses in my neighborhood have burned down in the last year from electric car fires in the garage.
I will stick with a Toyota hybrid.
Yep Chinse electric cars are fire hazards yet no Tesla have caught fire yet but Musk is too deep with CCP so its a matter of time.
Can’t believe people buy these junk cars anyway 😂
Given that the Chinese economy is in the process of melting down and fewer people can afford European imports, threats to slap tariffs on them are rather empty. Especially since high end retailers are reducing their presence / going out of business there. As for pork, they're dependent on imports to meet their needs. Another empty threat.
Only its not
The important background to this is also the European response to China's support of Russia in the Ukraine war. This is a tacit declaration of hostile intent on the part of China and this has increased the level of scrutiny on all of China's activities and has devalued any belief in their neutrality. This has broad ramification for all European and Chinese relations.
The west and its wars. Hypocrisy to the max
Chinese subsidized mail has been a major reason for the large increases in prices at USPS. All that garbage from temu and other sites is costing us a lot.
True, I can buy a $4 flashlight from China and get free shipping, but if I want to send a small gift to my Aunt, from IL to IN, it costs $10!
Good, the Chinese need stopping
I cannot see that raising tariffs on electric vehicles from China will have any significant effect on inflation in Europe or the USA. It simply means that fewer of these more expensive cars are purchased so contribution to inflation should remain neutral. Electric vehicles are likely to be for some time, a very minority product in these economies anyway.
Pretty much, I think like maybe 20% of all cars sold in the EU are electric, and about half are from China. These tariffs will just cause factories to be built out in the EU to avoid the tariffs. That's not gonna do much but slow down ev adoption for a year or two, since you know, Germany France and Poland are huge manufacturers in cars
@user-ze7vb5cx3y Why don't you try? I would be interested in your explanation.
Are ignorant when it comes to economics
@@sebyst7907Angela merkel sold deutchland out to the Chinese when she was in powers
I always come away from your videos feeling well informed. Thank you for putting the work into these videos.
Hands up if you LOVE Joe Blogs!! 🎉🎉🎉🙌🙌🙌👏👏
I'm straight
@@Tony-fl3rlso am I but Joe does a good job though, are you an Aussie by any chance
@camo6344 and you love a stange man . Bums to the wall .
Joe is a limey propagandist paid by the deep state
Dumping is not allowed.
there is virtually no Chinese electric vehicle being sold in the United States. This is a European issue.
Why wait for the problem to spread to US
4:20 with Joe and some hot coffee. It's going to be a good day! ❤😁❤
420 and coffee? Get help.
Trade war times, let’s see who folds first 🍿
I enjoy your podcasts and especially the "smile on your face" segments. Your parents obviously knew what they were doing when they raised you. Thanks!
The EV manufacturers are already in price war in China, which is already making some unprofitable. Chinese EVs are everywhere.. But the US. 😌
I wonder how the battery fires are going on Chinese cars? They were getting pretty frequent with both the Chinese cars and ebikes. I tend to follow the ebikes more.
I bought Ingco pressure pumps, a highly regarded China Brand and considered the best that China consumer pumps. I bought 8 because I needed them all. In less than 2 years all the 8 are now defective. So I have to buy Goulds Pump even if it is twice the price because my previous Gould Pumps is still running after 10 years. China equipments are junk. Their products are bullshit.
Unfortunately EVs are unaffordable for most people.
You already can buy cheap Evs in Europe from Dacia and Hyundai!
You save on brakes and gas$
You can live without EVs as normal cars are still cheaper but with food which is a necessity. Ccp without thinking strikee again just like the one child policy
Read Lighthizer"s book, No Trade is Free. A country that loses manufacturing capacity is doomed. Cheap t-shirts & tvs are worth losing good blue collar jobs!
EV’s are a bad idea until we have a new battery chemistry.
They do, its sodium ion
We the consumers are at fault for buying CHEAP. Or small town Atikokan , Ontario is the prime example of going Cheap to get contractors to do major repairs on roads , covert are putting a lot of of inconvenience to the people with not finishing on time . This cost more money for taxpayers . There seems to be no leadership left in this country , and voters just keep on electing politicians who just want a better pension .
China is a large food importer mainly due to their incompetence to produce farming products. That’s unlikely to chance. The Chinese focus is on technology and not on farming.
The CCP is full of nut and bolt head engineers. No farmers allowed.
Well done, sir!
China’s massive trade surpluses are due to its domestic demand repression meaning it can’t absorb its own production and must dump its excess capacity abroad. Look at Michael Pettis’s work for how this works. Until Chinese consumers’ wages and hence demand rise, they will continue this. The CCP does not 2ant to do this because increased g consumption option would mean reducing the government’s share of GDP and industrial investment and be very painful for politically connected sectors.
Thanks to the gop and maga for a lack of growth and support of the U.S. EV industry in comparison with our oil and combustion car industry.
Thanks to the Dems for spending billions of taxpayer money on EV‘s that the USA carmakers aren‘t going to produce.
Thanks Joe. Buying ev is stupid idea as long insurance is more expensive because the battery when an accident with those cars. too expensive paying every year the insurance bill.
We have to start learning to rely on each other, excluding all the Autocratic country's. We saw what happened when Russia thought the west couldn't survive without them, and if they were right, all of the EU would be eventually under the Russian thumb. We managed to show them who's boss, and we don't want to have to do the same to China. If the autocrats think their system is so great, let them rely on each other for the next 50yrs and see where it gets them. They will probably be like primitives, compared to the rest of the world.
china forgot that free people and free country can change its opinion or politics in blink of eye (ref. Finland and Sweden with NATO). China or any one party country can not do that.
With the amount of cheap Chinese scooters and ebikes catching fire damaging property and at times causing the death of people, what is the safety guarantee for users of Chinese electric cars? I know suing outside of China a Chinese company is a waste of time, so what happens if these electric vehicles catch fire due to poor design or construction? If a Toyota or a Ford cause a safety issue I know there is a method to deal with these issues but I am less confident of what happens when a Chinese company does not meet safety standards.
There is an intrinsic relationship between the CCP and every entity, by law.
What about the 130 million car related jobs in Europe?
No one in USA is buying Chinese EV s. Because it fails the safety standards.
dont talk about thinks you dont know......
Oh yeah? Which ev failed the crash test? Do tell
I've rapidly become a fan of your channel since finding it, especially how you explain the impacts of trade and finance. Would you be able to do a video on Chinese oil imports and how this affects the global oil trade, i've seen you've covered bits before but i'm finding the whole global impact very interesting and how it is tied into the other issues you make about CCPs economic policy.
I have seen many Chinese car companies in Peru. They are poor quality and every Peruvian knows it and would rather have a Toyota!
Anything but a murican car huh?
All things bought from China should have much higher tariffs. They’ve gotten away with selling tons of made in China garbage like led lights or poor quality tracievers that Russia has been using in Ukraine.. literally saw a Russia officer in a video having the exact same cheapo $20 transceiver I have. Everyone pays tariffs but China doesn’t qualify for the break anymore, especially considering they are arming Russia.
The "playing field" has has never really been level. This is such an old controversy. The risk is also a slowing of global trade like the lead up to the great depression of the 1930's. Everyone was protectionist.
Just a general comment that it's awesome you are making these videos and you are doing them with you in front of the camera. Not sure if you still get comments by users for your looks, but I hope those don't have impact anymore. You are awesome as you are.
Joe is AI-generated, which is why he does not have a name.
China's threatening Anti dumping tariffs you say, I've heard this story before, seems China didn't learn their lesson, so let history repeat
Cheap>Value. Funny how the news kept saying cheap instead of value.
Using the word value instead of cheap is something Walmart learned cause customers don't want "cheap" they want better "value". Your competition is cheap your product has a better value.
Also, China doesn't produce enough food for themselves, they're a net food importer, it's a brilliant move to raise the cost of THEIR FOOD. You don't have to have a new car, you must have food, theyve had famines before, I think they should have about self induced famine just like before. They've started extracting tax out of farmers because of the huge debt and deficit they have at local levels, yet another brilliant strategic move.
You think only europeans can farm pork? How stupid are you? The’ll just buy from Brazil or other asian countries
I giggled a little bit when you said the company would be on its own if it was in trouble here in the US because I thought back to the 08' crisis when all of the large domestic vehicle manufacturers (except Ford I believe) took very hefty sums of money to keep them afloat (off of the taxpayers)... which is not the case... they got saved by the tax payers just as if it was a subsidy. Funny enough it was told that GM's CEO at the time took 1.6 million USD of that "subsidy" provided by the tax payers to do an office remodel.. lol
Very informative
❤
Your very welcome and your videos are awesome and I love your content ❤
You have to wonder what the CCP expected to happen after years of gaming the trade system?
Tariffs are not a good road for the world to follow. We’ll all end up the poorer for the tit for tat.
PS - Chinese companies will dominate vehicle trade in countries that don’t have a local automobile manufacturing industry like New Zealand, Peru, etc.
Now Indonesia imposed tariffs on dumping.
The good news is that global recession is the only thing that reduces the burning of fossil fuels. The developed world shifting to electric cars shifts the burning of fossil fuels to the developing world, but does not decrease it.
Agreed. The west is *not* helping the environment by exporting its pollution to other countries. Virtue signaling is not environmentalism.
Hi Joe. Love your work, just want to ask if you could adjust your mike or mix ? It's just that no matter what level of volume I have my phone on your voice comes across really hard and hurts my ears, yeah I know take this cement pill, any way that's my input thanks for the great analysis Ps never noticed the sonic boom until one day I was wearing earbuds and I nearly died of fright heh heh. Good one:) , all the bess Joe
People should look at how EVs are doing in China. They will see that batteries are catching fire. We also see that over production may increase in China because Western corporations are fleeing and many have already left. Jobs are getting scarce and many stores and small businesses have closed. The economy is tanking due to the real estate bubble burst. China is looking to build jobs in the industries it controls, like EVs. They have purposely built over capacity and are trying to shove poorly constructed EVs onto the world market.
Boeing has learned, to their detriment, that Chinese products are NOT built to spec, and contracts are not followed (including those made with other Chinese!). Titanium based parts in critical structural parts have been cheapened by drilling holes in the sheets used in construction of the Jets they had built there. Corrupt inspectors turn a blind eye. Boeing traded it’s sterling reputation for a some short term profit for shareholders. Tariffs should stay until corporations again put safety and reliability over profits.
Very well said.
By WTO rules, anti-dumping tariffs are fair game. These prevent the selling of items at a loss in order to undercut local production. The tariff helps ensure a level playing field. Tit-for-tat tariffs, which China wants to introduce, are not allowed. They are primarily a political tool, essentially an attempt to coerce another country into making trade more favourable for the bully. If the USA or EU went to the WTO asking for arbitration, China would find an unfavourable ruling on both sets of tariffs. The process is unfortunately rather slow. China's tariffs on Australian coal and wine were an example.
Everybody has to agree to play by the same rules... If China subsidizes everything (and it does) then Chinese companies (owned by the CCP) can sell at a lower price than any competition and they drive all foreign competitors out of business leaving them to monopolize whatever market were talking about. THIS IS UNACCEPTABLE. If you wanna be a part of the global "free market" you have to agree to play by the rules that are established by said market, it's that simple. If you're going to subsidize everything and undercut everyone to destroy their industries, well, for a long time everyone was ok with that but now the world seems to have woken up and realized that hey, we no longer make ANYTHING and if China wants to stop selling us (insert the name of some product) were fukt.
Yep. China want to have it's cake and eat it too. China wants to benefit from the growth and opportunities of capitalism while retaining the controls and unfair advantage communism provides.
What about GM and Chrysler bail outs and Teslas $7500 credit per car?
Free market is a farce, if they want free market they wouldnt tariff chinese cars.
@@vincentczz yes, we got our own problems, those companies failed and should have been allowed to go out of business
The problem with buying a Chine product that is supposed to be used for several years and cost thousands of dollars is the concern about reliability and also the ability to maintain/repair the product overtime, considering the political-economic relationships. A risky purchase for people in the West despite the lower price temptations.
You get what you buy. Cheap cars, cheap garbage
Just like America. Every vehicle is recalled in North America. Every brand
Two brands of Chinese internal combustion engine cars available for sale here in Australia are Great Wall Motor Corporation and MG. In the case of MG a Chinese company bought the remains of the British MG company and so could use the name. Yes they do have a reputation for being cheap. Meanwhile one if my family members drives a BYD.
I live in California and own a Geely (in the form of a Polestar 2). Great car.
Let's be honest though, the tariffs are about China supporting Russia, their illegal behavior in the SCS and their refusal to acknowledge the sovereignty of Taiwan.
I am in support of the 100% tariffs we have here in the US, so long as the Chinese persist in the above activities.
If it were just subsidies, I *would not* support the tariffs as low cost BEVs are needed and if China wants to help pay to get us switched to BEVs out of their pockets, that's fine with me. If we (as a country) want to prevent the Chinese auto manufacturers erodinng domestic makers market shares, then the proper response is to *match* the Chinese subsidies for our manufacturers and not impose tariffs.
It's up to the Chinese. If they want to behave as responsible members of the global community and not threaten their neighbors with physical violence, then all the tariffs would be brought down (the proof that we in the US *will* do that, is because for 20 years we *did* do that).
Truth
You must be very wealthy.
You are serioisly delusional if you think us adheres to intentional law. Look at how they treat native americans, blacks, japanese internment concentration camps during ww2. Russia is in ukraine for the same reason Cuba was embargoed for hosting soviet nukes. Its not hard to understand
There is NO economy of scale in regards to BEV production except for 2 companies, BYD and Tesla, and they are BARELY at that point. So that statement from the CCP is total lies. They were giving subsidies DIRECTLY TO companies in violation of trade agreements being part of the WTO AND they hold stock in different companies BYD being one of those. At one point the subsidies were PER VEHICLE MADE by a manufacturer and was paid after production was shown, so a company didn't have to sell a vehicle. So, if a company made a BEV as cheap as possible they MADE MONEY from the subsidies, never selling a single vehicle.
There are graveyards of BEV in China in a few provinces, with hundreds of thousands of them parked in forest or near cities, rotting away.
I am not buying anything Chinese.
You didn't point out what the balance of not putting tarrifs, what the goal of the Chinese car industry is, and what the implications of them achieving their goals of market domination in other countries economies are.
One just has to go to Walmart and experience that Chinese goods are junk. There is no reason to suggest that higher end products are any better. They just don't have the mentality and the skills needed to produce high quality.
Sad to say, some US car makers have been bailed out in the past as well.
What it boils down to is the U.S., Canada and the EU have a huge number of well paid job tied to auto manufacturing and they are not going to let China auto companies destroy these jobs. Countries like Australia that don't produce cars will probably be happy to buy Chinese cars.
Sure but Australia is such a tiny market that it will not give China a dominant market.
My concern is the lack of parts and service for Chinese cars. In 10 years will we have millions of abandon EV, similar to China, due to inability for repair?