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China Sells Record Sum of US Debt Amid Signs of Diversification
(www.bloomberg.com)
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this post was submitted on 16 May 2024
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If this is the case it's even more out of touch than I thought. The threat from China in the automobile market is their EVs, which poses a big threat to Tesla. Tesla isn't unionized. If we were to have a company like BYD start selling in the USA, they'd do like all the other manufacturers and open up a subsidiary in the USA and get a plant going here. I think the Chinese manufacturers are smart enough to work with a big union like the UAW but that's conjecture. That kind of cooperation doesn't pose a threat to the union workers as it would strengthen them but it does pose an existential threat to our ruling class. The last thing they want is a giant Chinese manufacturer coming here and working with American unions.