this post was submitted on 23 Nov 2023
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Technology

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104
China’s Abandoned, Obsolete Electric Cars Are Piling Up in Cities (www.bloomberg.com)
submitted 11 months ago by jeena@jemmy.jeena.net to c/technology@beehaw.org
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A subsidy-fueled boom helped build China into an electric-car giant but left weed-infested lots across the nation brimming with unwanted battery-powered vehicles.

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[–] YeeHaw@beehaw.org 4 points 11 months ago (1 children)

Reminder that capitalism doesn't mean free market.

[–] Hirom@beehaw.org 1 points 11 months ago (1 children)

That's part of it, even if that's not the only part.

Central characteristics of capitalism include capital accumulation, competitive markets, price systems, private property, property rights recognition, voluntary exchange, and wage labor.

Source: https://en.m.wikipedia.org/wiki/Capitalism

[–] t3rmit3@beehaw.org 1 points 11 months ago* (last edited 11 months ago)

Sure, in the same way that a central characteristic of Communism is being a Stateless society, even though that part never seems to happen either (thanks, Lenin). "True Capitalism has never been tried before!"