Welcome to the Big Club of Saturation & Decline.
Industry panics, overcapacity spreads, but government brushes off the wailing and gnashing of teeth, looks to EVs.
Commercial Vehicle Overcapacity at Catastrophic Levels.
“A risky strategy.”
In a “downward spiral.”
The fiasco is part of a very hard landing for manufacturing.
When the People’s Bank of China spoke of “big downward pressure,” it wasn’t kidding.