The President says we should stop subsidising big oil and "double down" on green energy... I agree with the first part...
Many a politician, manufacturer and union rep would have us believe China cheats when it comes to trade... When we're talking subsidies, I agree... They are... But it's not you and me they're cheating... Per my illustration below:
Hi Marty,
ReplyDeleteWell said. If the Chinese government would ever stop, or curtail their subsidies, their economy would be in the toilet. Sooner, or later, it might happen. That may altogether not be a bad thing. It would spur U.S. manufacture and place less reliance on foreign goods. This of course would also affect the oil producers.
I disagree Hans. If the Chinese government were to stop subsidizing private companies, their economy would thrive. Keep in mind the money for those subsidies is taken from the taxpayer and redistributed according to some central plan. History has shown how inefficient centrally planned economies are--and always will be.
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