China spent 25 years failing to build a globally competitive domestic car industry through hundreds of billions of dollars of subsidies and forced partnerships. Then they tried something radical. In 2018, they invited Tesla to build a wholly-owned factory in Shanghai. No joint , page 7

China spent 25 years failing to build a globally competitive domestic car industry through hundreds of billions of dollars of subsidies and forced partnerships. Then they tried something radical.

In 2018, they invited Tesla to build a wholly-owned factory in Shanghai. No joint venture required. Chinese officials called it the "catfish effect" - Tesla would force domestic companies to compete or die.

The impact was brutal. When Tesla's Model 3 launched in 2020, it quickly became China's best-selling EV. BYD's total vehicle sales actually fell 7.7% that year to just 427,000 units.

By competing with the world's best, BYD was forced to address what they were missing: Chinese EVs had great battery tech and software, but the cars weren't appealing. So BYD learned design. Sales exploded. Today BYD sells over 4 million vehicles annually - 10x their 2020 numbers, and more than Tesla globally.

America should do the same thing. In the long run, the only way to win high-tech manufacturing is to actually compete against the very best in the world.

We should encourage BYD and other leading Chinese companies to build factories in America in exchange for the access to the U.S market. This would allow us to build up process knowledge and the the relevant supply chains domestically, and force American companies to catch up.

The alternative is to fall further and further behind.

I talked to Arthur Kroeber @arkroeber, one of the sharpest observers of China’s economy, about this and much more.

Full episode out tomorrow.

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Analysis of 30 years of U.N. data reveals that China and Russia have been far more successful than the United States in winning support for their positions from the global community.
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🔴#China: 35 years after #Tiananmen, the #Circle19 group has published a groundbreaking Statement of Principles, emphasising that the right to information is an integral part of China's🇨🇳 legacy and advocating for its effective exercise.
👉
Stencil:
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Analysis of 30 years of U.N. data reveals that China and Russia have been far more successful than the United States in winning support for their positions from the global community. 时政 ( buff.ly)

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The Democrats have spent the last 20 years saying that a government shutdown would be the end of the world. The sky would fall, the sun won’t rise. The minute they are the ones not in power, all the sudden the government shut down is a great idea. They are liars and hypocrites. btc ( twitter.com)

btc

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Any of your federal taxpayer money that could possibly be spent on importing illegals was spent on doing so btc ( twitter.com)

btc

Fascinating essay about one China activist’s interactions with her police handler over the years and the various ways the police have responded to her efforts, including everything from fancy meals to imprisonment. 时政 ( twitter.com)

时政

"As she marks three years of imprisonment in #China, the Australian journalist Cheng Lei has written a “love letter” to Australia, saying she longs for the sunlight, the outdoors and her family." 时政 ( www.theguardian.com)

时政

Shocking stat of the day: The US budget deficit has averaged 9% of GDP over the last 5 years. Over the last 12 months alone, the budget gap has hit 7% of GDP. This is even higher than during the 2001 or the 1980s recessions. This comes as the US government spent a whopping 时政 ( twitter.com)

时政

时政

$15 well spent 有趣 ( twitter.com)

有趣

$15 well spent 有趣 ( twitter.com)

有趣

1/10 Xi's visit to France, his first in Europe in five years, is perceived as a sign of Europe's failure to appease china, sparking worries for Ukraine and the wider Western world. Analysis by 时政 ( twitter.com)

时政

With a history of over 800 years, the octagonal brick pagoda with dense eaves in Yuanjue Temple of N China's Shanxi is touted as highly valuable for studying ancient ethnic culture in northern China. #ChineseArchitecture 时政 ( twitter.com)

时政

“We’re here because 35 years ago hundreds of thousands of students and workers gathered in Beijing’s Tiananmen Square— joined by millions more across China— to demand democracy. The CCP chose to stamp them out.” — Chairman 时政 ( twitter.com)

时政

Kissinger is dead. He set US China policy for the late Cold War and beyond. Only in the last 5 years have we seen the full consequences — and costs — of his influence. A thread 🧵 时政 ( twitter.com)

时政

Today is the 112th National Day of the Republic of China. After three long years, we finally took off our masks to see one another again and gathered together to celebrate our country's National Day. 时政 ( twitter.com)

时政

Walking on the Great Wall with California Governor Gavin Newsom after an important climate dialogue with Chinese and American experts. I thanked him for being the first U.S. governor to visit China in 4+ years. 时政 ( twitter.com)

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I’m 25 years old and I want my country back. Is it wrong to not want to live among migrants who want to kill me simply for existing? btc ( twitter.com)

btc

35 years ago, a Chinese man stared down 18 PLA tanks in a brave stand for freedom and human rights in China. warns that many Chinese people are staring down their own version of tanks today: 时政 ( www.forbes.com)

时政

"The Young China - The only Chinese morning paper in America." Edition: November 25, 1918, published in San Francisco. (On display at 1911 Revolution Museum / Wuhan) 时政 ( twitter.com)

时政

Today marks 35 years since the Tiananmen Square massacre. Chinese military tanks fired on student protesters, killing hundreds – possibly thousands. Dan Rather reported from the protest in 1989 until China pulled the plug on live news coverage. 时政 ( cbsn.ws)

时政

ELON: WE SPENT FAR TOO MUCH ON REGIME CHANGE IN VARIOUS COUNTRIES “I do think we interfere too much in what other countries do. The success of the State Department in achieving regime change is terrible. There's this effort spent, all this money spent trying to affect regime btc ( twitter.com)

btc

时政

#Xinjiang: Today marks 10 years since #Uyghur writer/academic #IlhamTohti was detained for his work promoting inter-ethnic dialogue and advocating for the rights of minorities in #China. We continue to call for his immediate and unconditional release: 时政 ( www.pen-international.org)

时政

The Taiwan Relations Act, enacted 45 years ago, was a key moment in the complex tapestry of international relations. But this legislation may no longer be enough to address the complexities of US–China–Taiwan relations. & explain: 时政 ( www.washingtontimes.com)

时政

🔴#China: 35 years after #Tiananmen, the #Circle19 group has published a groundbreaking Statement of Principles, emphasising that the right to information is an integral part of China's🇨🇳 legacy and advocating for its effective exercise. 👉 Stencil: 时政 ( rsf.org)

时政

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Analysis of 30 years of U.N. data reveals that China and Russia have been far more successful than the United States in winning support for their positions from the global community.
时政
( buff.ly)

The Democrats have spent the last 20 years saying that a government shutdown would be the end of the world. The sky would fall, the sun won’t rise.
The minute they are the ones not in power, all the sudden the government shut down is a great idea.
They are liars and hypocrites.
btc
( twitter.com)

Any of your federal taxpayer money that could possibly be spent on importing illegals was spent on doing so
btc
( twitter.com)

Fascinating essay about one China activist’s interactions with her police handler over the years and the various ways the police have responded to her efforts, including everything from fancy meals to imprisonment.
时政
( twitter.com)

"As she marks three years of imprisonment in #China, the Australian journalist Cheng Lei has written a “love letter” to Australia, saying she longs for the sunlight, the outdoors and her family."
时政
( www.theguardian.com)

Shocking stat of the day:
The US budget deficit has averaged 9% of GDP over the last 5 years.
Over the last 12 months alone, the budget gap has hit 7% of GDP.
This is even higher than during the 2001 or the 1980s recessions.
This comes as the US government spent a whopping
时政
( twitter.com)

$15 well spent
有趣
( twitter.com)

$15 well spent
有趣
( twitter.com)

1/10 Xi's visit to France, his first in Europe in five years, is perceived as a sign of Europe's failure to appease china, sparking worries for Ukraine and the wider Western world. Analysis by
时政
( twitter.com)

With a history of over 800 years, the octagonal brick pagoda with dense eaves in Yuanjue Temple of N China's Shanxi is touted as highly valuable for studying ancient ethnic culture in northern China. #ChineseArchitecture
时政
( twitter.com)

“We’re here because 35 years ago hundreds of thousands of students and workers gathered in Beijing’s Tiananmen Square— joined by millions more across China— to demand democracy.
The CCP chose to stamp them out.” — Chairman
时政
( twitter.com)

Kissinger is dead. He set US China policy for the late Cold War and beyond. Only in the last 5 years have we seen the full consequences — and costs — of his influence.
A thread 🧵
时政
( twitter.com)

Today is the 112th National Day of the Republic of China. After three long years, we finally took off our masks to see one another again and gathered together to celebrate our country's National Day.
时政
( twitter.com)

Walking on the Great Wall with California Governor Gavin Newsom after an important climate dialogue with Chinese and American experts. I thanked him for being the first U.S. governor to visit China in 4+ years.
时政
( twitter.com)

I’m 25 years old and I want my country back.
Is it wrong to not want to live among migrants who want to kill me simply for existing?
btc
( twitter.com)

35 years ago, a Chinese man stared down 18 PLA tanks in a brave stand for freedom and human rights in China. warns that many Chinese people are staring down their own version of tanks today:
时政
( www.forbes.com)

"The Young China - The only Chinese morning paper in America." Edition: November 25, 1918, published in San Francisco. (On display at 1911 Revolution Museum / Wuhan)
时政
( twitter.com)

Today marks 35 years since the Tiananmen Square massacre. Chinese military tanks fired on student protesters, killing hundreds – possibly thousands. Dan Rather reported from the protest in 1989 until China pulled the plug on live news coverage.
时政
( cbsn.ws)

ELON: WE SPENT FAR TOO MUCH ON REGIME CHANGE IN VARIOUS COUNTRIES
“I do think we interfere too much in what other countries do.
The success of the State Department in achieving regime change is terrible.
There's this effort spent, all this money spent trying to affect regime
btc
( twitter.com)

#Xinjiang: Today marks 10 years since #Uyghur writer/academic #IlhamTohti was detained for his work promoting inter-ethnic dialogue and advocating for the rights of minorities in #China. We continue to call for his immediate and unconditional release:
时政
( www.pen-international.org)

The Taiwan Relations Act, enacted 45 years ago, was a key moment in the complex tapestry of international relations.
But this legislation may no longer be enough to address the complexities of US–China–Taiwan relations. & explain:
时政
( www.washingtontimes.com)

🔴#China: 35 years after #Tiananmen, the #Circle19 group has published a groundbreaking Statement of Principles, emphasising that the right to information is an integral part of China's🇨🇳 legacy and advocating for its effective exercise.
👉
Stencil:
时政
( rsf.org)