An influx of Chinese cars is terrifying the West
But it should keep its markets open to cheap, clean vehicles
IS china about to unleash another wave of deindustrialisation on the rich world? About 1m American manufacturing workers lost their jobs to Chinese competition in 1997-2011, as the country integrated into the global trading system and began shipping cheap goods overseas. This “China shock” has since been blamed for everything from rising deaths among working-class Americans to the election of Donald Trump. The rejection of liberal attitudes to trade also explains why politicians embrace industrial policy today. Now China’s carmakers are enjoying an astonishing rise. That stokes fears of another ruinous shock. In fact, the successes of Chinese cars should be celebrated, not feared.
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This article appeared in the Leaders section of the print edition under the headline “China’s EV onslaught”
From the January 13th 2024 edition
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