Watching American (and EU) industry leaders panic whenever China shows up never gets old: Western automakers had the chance to dominate international markets, but they stayed back at home, making overpriced cars for their captive audience of local buyers.<p>Whenever competitors showed up, they laughed at them, before panicking when those upstarts starting challenging their market dominance. It happened with Japan, Korea, and now China. And in other industries, e.g., solar, nuclear power, etc.<p>So, if you feel China competes unfairly, close off your markets. Countries without a local auto industry (large swathes of Asia, Latin America, the admittedly tiny African market) will accept Chinese EVs readily and it will give them time and experience to perfect their designs and business model. BYD & co. will then snatch American & EU automakers' foreign markets before they come home to swallow you alive by building factories in low-cost gateway countries like Bulgaria, Hungary, Romania, Mexico, & Brazil.<p>Basically, the Toyota cycle will repeat itself because Western (esp. American) automakers spent hundreds of billions on share buybacks instead of R&D.<p>PS: Wrote this as a reply to another comment, but I feel it needs to stand alone.