> Given that, hopefully there'll be some high profile discussion about what China is doing to achieve this level of success.
This doesn’t take more than about 30 seconds of review. The CCP is making long term bets and demanding the private sector do as they’re told. It’s been obvious for a decade that renewable energy is the future. It’s been obvious that electrification of cars is happening whether legacy manufacturers like it or not.
The west can’t see past their next quarterly earnings result, and doesn’t have the stomach to make the long term investments the CCP has demanded of their own manufacturers.
Even Ford, who by all accounts is fully invested in electrification and is all in, has started to pull back because investors aren’t ok with an investment that might take a decade to pay off.
>The west can’t see past their next quarterly earnings result,
Assuming "the west" includes the US, the biggest companies in the US have very long investment timelines, much farther than the next quarter. Tesla, whose business includes making cars, lost money for 10+ years as a publicly listed company.
It's notable that this only happened because Elon held a controlling (or near-controlling) share and pushed for long-term vision against the wishes of institutional investors, bulling them as necessary. The "long investment timeline" did NOT come from wall street.
“Wall street” is the one rewarding Tesla with a market cap almost an order of magnitude more than Toyota, even though Tesla’s net income is not much higher than Toyota’s, and Toyota moves many more cars.
“Wall street” (or “the west”) is getting far more on Tesla’s long term ability to grow net income than on Toyota’s.
This is not the time to try for simple stabs in the dark, we really should make a serious effort to understand one. The west has been trying to get renewable energy working for more than 15 years, that was the strategy that has people talking about German deindustrialisation and having to read up on what the AfD's policies are. They dumped a lot of political capital into the Energiewende.
> ... because investors aren’t ok with an investment that might take a decade to pay off.
Sure. Why not? I'm happy making investments that take decades to pay off, I want to have access to machines when I'm old. What happened to all the investors who intend to live comfortably in their old age?
> What happened to all the investors who intend to live comfortably in their old age?
They got bought out by investors with shorter-term ambitions, because our economy is set up to reward short-termism, so those people end up with more capital (= market power), and this compounds over time.
This doesn’t take more than about 30 seconds of review. The CCP is making long term bets and demanding the private sector do as they’re told. It’s been obvious for a decade that renewable energy is the future. It’s been obvious that electrification of cars is happening whether legacy manufacturers like it or not.
The west can’t see past their next quarterly earnings result, and doesn’t have the stomach to make the long term investments the CCP has demanded of their own manufacturers.
Even Ford, who by all accounts is fully invested in electrification and is all in, has started to pull back because investors aren’t ok with an investment that might take a decade to pay off.