China is flooding the European market with cheaply produced cars. Extreme subsidies support car manufacturers.
Olaf Scholz (SPD) knows this - but didn't say a word to China about the consequences. Chinese dominance now has entire industries in its grip. Be it the solar industry, online shopping, or the automotive industry. The cheap products are driving German companies to ruin. The Chinese leadership continues to have high hopes for the automotive, photovoltaics, and battery industries. It was only at the National People's Congress in March that Prime Minister Li Qiang spoke out in favor of further supporting these industries. There is no longer much potential for improvement. Only a few manufacturers produce profitably; many sell their products well below value. The lack of willingness to buy among their Chinese compatriots further exacerbates the problem. Companies are increasingly only seeing the solution as selling their products abroad. According to CNN, China's growth in 2023 had one of the "worst performances" in the last three decades.