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The death of globalisation?

Analysis

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Is China Subsidizing?

President Biden's new law aims to boost green technology. It includes many buy America restrictions, so firms can only get the subsidies and tax credits if they are located in the US. A whole bunch of European car firms,. for example, are thinking of shifting their production to America to benefit from these subsidies. The ending of seamless access to Europe and race to the bottom in subsidies pose an existential risk for this proud British industry.

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