00:00The EU's claim of unfair practices, rejected as unjustified by China, obscures other reasons
00:12for Chinese vehicle makers commanding lead in the race to the electric future.
00:17So what's really going on?
00:48But foreign companies could get those too.
00:51Tesla's Gigafactory in Shanghai, built in 2019 with central government backing,
00:56is credited with jolting Chinese companies into upping their game.
01:00There's a Chinese proverb that is like the catfish effect.
01:04And you throw a catfish in a pond with lazy fish and all the fish get stronger because of the catfish.
01:12I think a lot of people use that as an analogy with Tesla entering the China market
01:17because it strengthened all the other players.
01:19There is no nation that has built a competitive transportation sector
01:24that didn't have a heavy hand of government intervention.
01:27I mean, the nationwide US highway system was not the creation of the automotive industry.
01:34There's ample precedent for that everywhere in the world, not just in China.
01:38And if that's in the strategic interest of your industry,
01:41if it makes your domestic competitors more competitive versus the global auto industry,
01:47then so be it. That's what policy should be guiding.
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