Hyper-competitive market created by Chinese industrial policy

Chinese industrial policy leads to a hyper-competitive market domestically, fueled by excessive spending and creating a cutthroat competition especially in industries like photovoltaics, batteries, and electric vehicles. The oversupply generated in the Chinese market forces businesses to seek easier markets globally, resulting in the export of less competitive products. This dynamic shapes China's domestic market as one of the most fiercely competitive in the world, ultimately leading to the export of excess products to other countries.