Did Ayn Rand and her fans ever addressed the issue of massive subsidies by the CCP of many key industries to corner the international market and bankrupt the competition?
Reports have documented significant subsidies, including preferential loans, equity infusions, land-use discounts, and direct cash grants.
For example, a study revealed over $50 billion in subsidies granted to Chinese steel producers. These subsidies have contributed to overcapacity in China’s steel industry, enabling producers to sell steel at lower prices internationally undercutting American steel producers.
Did she and her supporters ever address this, or are they OK with what the Chinese government is doing? Should we simply ignore what the CCP us doing in the name of lower prices for American consumers?
I don’t know. Rand died in 1982. I never met her.
I knew some Objectivists in NYC. I don’t recall having a chat about state socialism.
That said, I DO know about https://en.wikipedia.org/wiki/Whataboutism. Which detracts from my main point about tariffs.
Maybe it’ll work. Maybe it won’t. It’s fine to argue the pros and cons. But let’s not ignore the baseline.
**Did Ayn Rand and her fans ever addressed the issue of massive subsidies by the CCP of many key industries to corner the international market and bankrupt the competition?**
I do remember Milton Friedman saying other countries subsidizing their industries doesn’t hurt us.