Why did private firms, not state-owned enterprises (SOEs), come to dominate China’s EV sector?
My new
@ChinaJournal article (co-authored with Xiao Ma
@maxiaoalex) challenge the "top-down industrial policy" narrative.
The real engine? Strategic alliances between local governments and private capital. 🧵
Based on 3+ years of fieldwork, 60+ interviews (with officials, entrepreneurs, and engineers), and rich first-hand accounts, we show how strict central regulations inadvertently drove local states to bet big on private EV players.
Here is the story: (1/15)