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China the Land of EV Graveyards – Will the U.S. Be Next?

Bloomberg has published a series of photos of vast fields of abandoned electric vehicles parked tightly together and being overgrown by vegetation. These are apparently being found in cities all over China:

The photographer helpfully explains:

“The shared bikes and EV graveyards are a result of unconstrained capitalism,” Wu said. “The waste of resources, the damage to the environment, the vanishing wealth, it’s a natural consequence.”

Yeah right — nothing says capitalism like massive subsidies, bans on internal combustion vehicles, and all of the other tools of central planning communist China used to force EVs to be produced. That’s exactly the command and control strategy Biden is attempting here in the United States.

As the WSJ ed board correctly notes today:

The U.S. is seeking to imitate China’s economic model at the moment that its industrial policy fractures. Look no further than its collapsing electric-vehicle bubble, which is a lesson in how industries built by government often also fail because of government…

Chinese government support inflated EV investment and misallocated capital that could have been put to more productive uses. Now comes the destruction that invariably follows the government creation, which may be a harbinger for the U.S. as the Biden Administration emulates China’s EV industrial policy.

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