The Economist, speaking for Davos Person, conceded that “An influx of Chinese cars is terrifying the West” but argued editorially that “it should keep its markets open to cheap, clean vehicles”. If you believe China is manufacturing car batteries in a clean manner, you probably shouldn’t be a journalist. But of course the idea is that hollowing out what remains of American and European manufacturing to fund Chinese geopolitical ambitions is fine if at the same time it helps wealthy people obey government virtue-signalling mandates with less sacrifice. In other news, Donald Trump remains inexplicably popular outside the “one percent”.
Over in the land of evidence-based decision-making, Euractiv reports that “Europe’s major trade union organisations have expressed deep concern about the scale of the EU’s industrial decline, as structurally high energy prices continue to lay waste to a crucial pillar of the bloc’s economy.” Oh my. “‘We are facing a very worrying situation,’ European Trade Union Confederation Confederal Secretary Ludovic Voet told Euractiv. ‘These figures are a canary in a coal mine: the biggest hit are the long-term investments in buildings and equipment.’” Maybe Chrystia Freeland should explain to him that he’s imagining it. Or that someone is.
Mind you that Economist “leader”, as the British call such voice-of-institutional-wisdom pieces, concludes “Policymakers should therefore curb their protectionist instincts and worry only in the unlikely event that Western carmakers implode altogether.” At which point we um uh yes well that is to say…
There’s reality, however remote it may feel to the super-rich in Davos.
Oh, and speaking of clean, Blacklock’s notes the awkward fact that “A taxpayer-subsidized electric auto battery factory is under Department of Fisheries review over ‘potential for the destruction of wetlands and fish habitat.’ Prime Minister Justin Trudeau had called the Northvolt plant ‘the world’s cleanest.’” Again, it’s not fact-based so facts don’t dent it.