Xi Wants to End China’s Price Wars. But How?
Bloomberg reports that the president pulled the country out of deflation in 2015. He has a tougher job this time.
Inside China, price wars are far more dangerous than US tariffs. As President Xi Jinping starts to address the country’s ultra-competitive business culture, the trillion-dollar question is how — and whether he can succeed. Race-to-the-bottom mentality is everywhere. The world’s biggest EV maker BYD Co. slashed prices by as much as 34% in May, exacerbating a decline in auto prices... ...
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