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In short:
- Treasury Secretary Janet Yellen warned against Chinese “clean energy dumping” by flooding the market with inexpensive goods.
- The US government heavily subsidizes domestic producers of green products, even begging China to cut exports.
- Chinese producers are heavily subsidized by their state, causing harm to American producers and workers.
- The US government believes the flexible American economy is threatened by socialist businesses and Chinese taxpayers.
Key quote:
After trying to persuade us that the use of fossil fuels threatened the future of mankind, these politicians get on their high horses because some producers in the world want to sell us at low prices products that could prevent the catastrophe. In the United States, formerly called “the country of free enterprise,” the feds and state governments are heavily subsidizing domestic producers of “green products.” The so-called Inflation Reduction Act offers large tax credits. Isn’t it also farcical that the government of the United States would beg a foreign socialist government to cut its exports of green products?
For sure, Chinese producers are nearly totally dominated by their state and the latter can more easily force its taxpayers to subsidize domestic exporters. (The exporters use their national resources to produce goods for foreigners—but let’s skip this contradiction of protectionism.) Why would American consumers and producers reject a gift from foreign taxpayers and prefer instead to their other fellow citizens to pay?
