It’s not capitalism because it’s not the market magically fixing itself but China injecting a ton of money to prop up a sector the big companies have purposefully ignored, to avoid spending money on R&D. Plus all the incentives given here and there to push people towards EV.
And the concept of offer and demand is not exclusive to capitalism, no.
How?
One company doesn’t sell a product consumers want to buy so their sales go down.
One company does sell a product consumers want to buy so their sales go up.
How’s that’s not capitalism?
It’s not capitalism because it’s not the market magically fixing itself but China injecting a ton of money to prop up a sector the big companies have purposefully ignored, to avoid spending money on R&D. Plus all the incentives given here and there to push people towards EV.
And the concept of offer and demand is not exclusive to capitalism, no.