Volkswagen Boss Discovers State Planning After Getting Smoked by China
The same people who spent 35 years telling the world that markets beat planning are now begging for state industrial policy because China's car companies are eating their lunch.
The irony is almost too clean. Volkswagen's CEO looked at BYD and went full five-year plan.
Western capitalist propaganda has insisted for decades that state planning and industrial policy are "inefficient" and bad. But now that German car companies are losing badly to Chinese competitors, Volkswagen's CEO says the West should copy China's planning & industrial policy.
Source
x.com