alt Hacker NewsIt's like the 1970s all over again with how the US Big 3 makers are facing an existential threat held at bay only by protectionism. They're going to have to learn to compete yet again.
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Did they ever learn to compete then? The only thing that protected them then was that Japan was a US “ally” and could be “persuaded” to go along with protectionism. China has no such need.
I would argue that the 70s were a trial run for whats happening today but instead of becoming more competitive the automakers focused on lobbying for Government help; a playbook that won’t help them today.
And even more stupidly, traditional American carmarkers are discontinuing EV models and shutting down factories JUST when they finally had an edge over their japanese competitors.
You can't compete if you have minimum wage and immigration restrictions. The labor market is far too costly compared to what Chinese companies have access to.