On Sun, May 19, 2024 at 08:51 AM, hari kumar wrote: > > The leading forces of Chinese capitalists have (if belatedly) switched > from land-building-web) to some more fundamental economic forces.
It looks more like overaccumulation continues, even as it runs into political-economic limits. From a recent article by Michael Shuman (I have underlined the several industries mentioned): Counting both EVs and internal-combustion-engine vehicles , China’s auto industry now has the capacity to produce almost twice as many vehicles as Chinese consumers are buying, according to the Shanghai-based consultancy Automobility Limited. Although oversupply in the EV sector, where demand is still growing, is not as severe as in the legacy business, Chinese automakers are still adding assembly lines. China now has the largest domestic car market in the world, but even Chinese consumers cannot sustain so many factories, especially as the country’s economy slows. So automakers are off-loading their surplus products into the global marketplace. China vied with Japan for the title of world’s largest car exporter last year. This problem is not confined to cars. China’s steel industry has maintained its output even though demand at home has been declining. The Australian bank Westpac said recently that steel exports, which are approaching record levels, have become a “release valve” for this excess. Chinese state-owned media are reporting that a glut of solar panels —another sector dominated by Chinese companies—is depressing prices and squeezing profits. A surge of Chinese investment into manufacturing “legacy” microchips (those using older technology) is sparking fears they could flood the global marketplace. Excerpts from https://www.theatlantic.com/international/archive/2024/05/china-tariffs-electric-vehicles-trade-war/678385/ -=-=-=-=-=-=-=-=-=-=-=- Groups.io Links: You receive all messages sent to this group. View/Reply Online (#30406): https://groups.io/g/marxmail/message/30406 Mute This Topic: https://groups.io/mt/106185417/21656 -=-=- POSTING RULES & NOTES #1 YOU MUST clip all extraneous text when replying to a message. #2 This mail-list, like most, is publicly & permanently archived. #3 Subscribe and post under an alias if #2 is a concern. #4 Do not exceed five posts a day. -=-=- Group Owner: [email protected] Unsubscribe: https://groups.io/g/marxmail/leave/8674936/21656/1316126222/xyzzy [[email protected]] -=-=-=-=-=-=-=-=-=-=-=-
