You can talk all day about slave labor, no benefits, and the "Safety? What's 'Safety'?" attitude over there--not to mention IP theft, quality issues, and other negatives.
But there's something else the US has that the PRChinese don't: regulations.
At the American Action Network, red tape expert Sam Batkins tracks the industry compliance costs and intergovernmental costs (i.e. the cost states must bear thanks to unfunded mandates) of new federal regulation. Year-to-date, the Federal Register has published 72,820 pages, and the estimated cost of the regulations contained in those pages has mounted to more than $93 billion, according to Batkins’ database. That is, by the time all these regulations have been implemented, they will have cost industry and state governments nearly $100 billion.
Until today.
...today, the Federal Register published a new regulation on CAFÉ standards that the administration itself has admitted could cost as much as $141 billion in compliance by 2025. Didja get that? This one rule could cost more than all the rest of this year’s rules combined.
The reg calls for 54.5 MPG average in US auto-fleet production by 2025.
HT: Hot Air
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China is competitive because of an undervalued Yuan vs. dollar via currency manipulation. The rest is simply window dressing.
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