I gotta do it!!

@Solomonsatoshi thoughts?

if Beijing is subsidizing its way to dominance in semiconductors, electric vehicles, and advanced manufacturing, surely Washington cannot afford to stand on free-market principle while the factories disappear. It is a compelling story, and it is also, on closer inspection, largely a myth.

Between 2006 and 2013, the Chinese government channeled the equivalent of RMB 624 billion, roughly $91 billion, into the sector through entry subsidies, production subsidies, and investment subsidies, with entry subsidies alone accounting for RMB 431 billion of the total, dwarfing the RMB 156 billion directed at production and the RMB 37 billion at investment. These were not marginal interventions nudging an industry in a preferred direction; they were transformative injections of public money that reshaped a global industry,

and the question is whether the returns justified the cost.and the question is whether the returns justified the cost.

The evidence suggests they did not. When the lifetime profit gains of domestic firms are measured against the total subsidies disbursed, the gross return rate stands at just 18 percent. For every yuan spent supporting the sector, domestic producers gained fewer than twenty fen in net profit, a result substantially depressed by the fixed costs that shipyards must bear regardless of whether any vessels are actually being built.