China obviously has policies that benefit exports. But I think they're going to far with this EV thing, and they might be realizing that they've gone too far with their policies... But too late. Their industry and internal politics are designed to reward this overproduction.

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The real issue is internal Chinese demand has dropped off a cliff since COVID-19 and Evergrande issues combined in a terrible storm the past few years. Chinas internal economy has never recovered so they only have Exports now to rely on.

But now they're hammering exports to the point of causing geopolitical issues.

China does not want to be so reliant on foreign markets either. They're a proud nation that wants to stand by itself. But they have nothing but exports holding them up right now.