Source: Automotive News
quote: Stop recycling this debunked rare earth metal FUD.
quote: That's known as trolling..
quote: But should the government fund industry in general? Yes, of course it should.
quote: American government-funded technology are the internet
quote: No, of course it shouldn't. Why even HAVE a private sector then? Let's just nationalize the economy 100%!
quote: Musk didn't even NEED the loans. Are we forgetting the guy was a billionaire already?
quote: When we say the "Internet" today, we really mean the World Wide Web. Yes, the Government funded DARPANET. But to say we have an "Internet" today because of the Government is fallacious. The Government absolutely could not have delivered to us the Internet as we know it today. 100% fact, end of story. Without the private sector there would be NO Internet.The same goes for every single example on your list.
quote: why does that mean he shouldn't be able to get a loan to fund the business?
quote: Government subsidies to produce technologically advanced products and undercut foreign manufacturers have buttressed China's trade prowess. Since 2000, the value of Chinese exports more than quadrupled. In 2009, China surpassed Germany to become the world's largest exporter. In 2010, it overtook Japan to become the second-largest manufacturer, and its foreign-exchange reserves became the largest in the world. Last year, China overtook the U.S. to become the biggest trading nation (as measured by the sum of goods exported and imported). In the Chinese industries we studied -- solar, steel, glass, paper, and auto parts -- labor was between 2% and 7% of production costs, and imported raw materials and energy accounted for most costs. Production mostly came from small companies that possessed no scale economies. Yet, Chinese products routinely sold for 25% to 30% less than those from the U.S. or European Union. We found that Chinese companies could do this only because of subsidies they received from China's central and provincial governments. The subsidies took the form of free or low-cost loans; artificially cheap raw materials, components, energy, and land; and support for R&D and technology acquisitions. Since 2001, when China joined the World Trade Organization, subsidies have annually financed over 20% of the expansion of the country's manufacturing capacity. The state has willingly paid the price of economic inefficiency to accomplish political, social, economic, and diplomatic goals. Huge Chinese subsidies have led to massive excess global capacity, increased exports, and depressed worldwide prices, and have hollowed out other countries' industrial bases.