Michael Pettis and I talk about China's emergence as a major car exporter, what it says about China, and what it means for Europe. Plus: how and when protectionism works (and doesn't).
On the very low end of the product spectrum, I was able to buy a basic toaster from my local grocery store for only $8. There were 20-30 different toasters on Amazon at $15-35. Are a great deal of China’s manufacturers struggling to be cash flow break even. It seems that a modest slowdown (not even recession) in the US will crush sales volumes of many items from China.
On the very low end of the product spectrum, I was able to buy a basic toaster from my local grocery store for only $8. There were 20-30 different toasters on Amazon at $15-35. Are a great deal of China’s manufacturers struggling to be cash flow break even. It seems that a modest slowdown (not even recession) in the US will crush sales volumes of many items from China.