Source: Christian Science Monitor
by staff
“The world’s auto markets were shocked in May when China’s leading electric vehicle maker, BYD (Build Your Dreams), offered a model for the equivalent of about $8,000. The low price seemed untied to the true costs of EVs. A while later, U.S. Treasury Secretary Scott Bessent said the Chinese economy – the world’s second-largest – is ‘the most unbalanced’ in history. He was reflecting global concerns that China would export goods at artificially low prices to boost its economy and thus damage others, driving a global descent into trade barriers. That concern, however, was not only outside China. In recent months, the Chinese Communist Party has admitted that excessive government incentives in the country’s showcase industries – including solar panels, batteries, and EVs – have helped distort market forces, leading to excess capacity and overheated price wars.” (07/22/25)
https://www.csmonitor.com/Commentary/the-monitors-view/2025/0722/China-s-mental-shift-on-deflation