EU buckling under pressure: Probing Chinese EV will not save itself
The European Union is saying that Chinese electric vehicles (EVs) have received huge state subsidies, so that they can sell at a lower price and this needs to be investigated. The EU's action is not about fair competition. It is plain self-centered protectionism: As companies in Europe being overrun by competitors and are falling behind, EU tries to reserve its EV market for its own companies. It is tearing down "market economy" and "fair competition" with this single act. But it will end up just like U.S.'s trade war against China. It will take EU itself down while trying to outplay China. It is saying to the Europeans: "Look, you may like this Chinese car, it may have great performance, and it is not expensive, but I'm going to impose a tax on it so that you can't afford it."