Comments by "Winston Smith" (@kryts27) on "China’s $500 Billion Lithium Battery Firms Face Collapse: Factories Shut, Buildings Abandoned" video.

  1. A lot of medium to large manufacturing companies in China are SOI's meaning taxpayer's money built it and then money was wasted. It's not what the people in the West understand, that a lot of taxpayer money in China does not go enough into schools and roads and hospitals. Certainly not into social security, but in useless zombie enterprises like this, which would normally be private enterprise in other countries, One day soon, all the taxpayer money will run out because the CCP, by and large, does not borrow funds from foreign capital; it's too scared of too many strings attached. Lithium batteries built in China are also problematic; many of these batteries are poorly built leading to excessive battery fires. For EVs, because of the large size of these batteries, this is a very serious hazard. China has under-productive and over-worked workers. These workers, futhermore, are disinterested in quality control because of coercion leading to systematic poor manufacturing quality control issues and a culture of corruption and cutting corners. This is partly a function of totalitarian societies where virtual slavery exists.
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