Free Republic

The possibility that policies such as zero-Covid, which has resulted in sweeping lockdowns to contain the virus, and “Common Prosperity” — Xi’s bid to redistribute wealth — could be escalated was causing concern, Cheung said. “With the Politburo Standing Committee composed of President Xi’s close allies, market participants read the implications as President Xi’s power consolidation and the policy continuation,” he added. Mitul Kotecha, head of emerging markets strategy at TD Securities, also pointed out that the disappearance of pro-reform officials from the new leadership bodes ill for the future of China’s private sector. Under the banner of the “Common...

The supply chain for electric-vehicle batteries is uncomfortably dependent on China—for now, at least Competing with a much better-established Chinese industry isn’t an obvious proposition for investors, even with subsidies thrown in. That leaves U.S. car makers tentatively leading even the upstream supply-chain push, in alliance with the Energy Department. The future of EVs is often assumed to depend on solving consumer problems such as slow charging infrastructure and range anxiety. Instead, they could be slowed down more by the conundrum of building the foundations of a battery industry.

No less than the Chief Executive Officer (CEO) of Tesla, Musk, announced on his Twitter account that Giga Shanghai has already made its 1 millionth EV. As per the latest report by Electrek, the achievement of the Giga Shanghai is a monumental milestone for the Tesla factory in the Asian nation. The news outlet notes that the big boss of Tesla stated last year that its Chinese facility is its new primary export hub. Musk made that pronouncement when the Giga Shanghai easily outpaced the Fremont Factory of the renowned EV maker in its production capacity in 2021.