TrueValueMetrics ... Impact Accounting for the 21st Century

Date: 2025-08-21 Page is: DBtxt003.php txt00028069

THE SOCIO-ENVIRO-ECONOMIC SYSTEM (SEES)
and
TrueValueMetrics (TVM)
Thoughts on how accountancy and economics
need to adjust to have future relevance and utility.

TVM SITE NAVIGATION

HOME

SiteNav

Alpha

SEES

actors

place

products

metrics

TPB

TRANSCRIPT

TRANSCRIPT NAVIGATION

S-01 S-02 S-03 S-04 S-05 S-06 S-07 S-08 S-09 S-10 S-11 S-12 S-13 S-14 S-15

S-16 S-17 S-18 S-19 S-20 S-21 S-22 S-23 S-24 S-25 S-26 S-27 S-28 S-29 S-30

Contents Last S-08 Next S-10

SECTION 9
THE ASTONISHING STORY OF HOW CHINA CAME TO DOMINATE OVER ELON MUSK IN ELECTRIC CARS
Version 1 ... February 2025

1:05:00
American economy is in terrible difficulty and that the and that the
crisis of our time which includes Mr Trump is that the response is
denial self delusional denial which is not surprising I I have a certain
compassion for it it's hard to be alive at a time when your
Empire is dying is hard if your economic system is full of problems really is that conversation

1:05:32

The Astonishing Story of How China Came to Dominate Elon Musk Over Electric Cars

we had about the electric vehicles was a couple of episodes ago and we're we're reaching a lot of new listeners now and
on top of that I found that whole story incredibly fascinating because we think
of the automobile as an American invention if there ever was one and we
think of ourselves as being on The Cutting Edge of their development even now with electric vehicles in Tesla so
for those of our listeners who aren't familiar with this story just are we not dominating electric vehicles anymore

1:06:04
what's going on you know the most I will I'll be happy to do it but the most important
thing about it is that interested
intelligent thoughtful people like your audience and like you don't know it that
order to worry you okay here it is 15 years ago the automobile
industry began a competition who could come up with the best electric vehicle
because it was understood and generally viewed that's the future of the automobile industry we are in a
transition for ecological reasons and cost reason blah blah blah we're moving
away from fossil fuels that make our car is run gasoline and we're going to go to
Electric okay that was a

1:07:03
consensus why because there were very few voices there were but very few
voices which were drowned out in the United States pushed aside the way these folks usually are which said that this
was fundamentally irrational that what the country needs
is mass transit why because the indiv idual vehicle is a
ridiculous way of organizing Transportation most cars spend most of
every day sitting somewhere this is nuts what are you doing yeah it's in your
garage it's in the street it's in the parking facility what are you doing so that for 20 minutes a day or maybe even
an hour a day you're actually in there but the rest of the them sits there what
you can even see that the understanding carefully that we now have bicycles here

1:08:02
in New York City loads of them all over every few blocks there's a bunch of and when you need a bicycle you get a
bicycle you pull it out it's automated you drive around and you stick it back in one of the holders and that way a
terribly amount of waste is avoided we're not building millions of bicycles
cuz we don't need millions millions of people want to bicycle will provide it
20,000 will do it very nicely because I'll take it for the hour I need it and put it back in and John will come and
then Mary will come and we'll share we have a mass transit system for bicycles
just like we have here in New York City a Subway with a fantastic invention it
takes many more people at infinitely lower cost nobody gets injured or once
in a blue moon by a Subway no you it's just it doesn't pollute it it's
infinitely better to do mass transit do it beautifully do it elegantly people

1:09:05
say to me what would that mean I say go to Europe to get on train Tokyo go to toy go to Tokyo I'm familiar with Europe
you go the trains are magnificent you have even the the super fast ones you know why the United States is so far
behind will leave aside although fascinating anyway 15 years ago let
we're gonna do the electric car stupid because you're replacing the private car
with another private car but at least better than fossil fuel it'll be electricity
run okay Tesla is one of the early pioneers and makes Mr Elon Musk a
household name and and Rich very rich but uh General Motors works on it
Ford works on it Toyota works on everybody works on But Here we are now
15 years later the Chinese have automobile company they work on it too

1:10:02
but they win they win the competition the best car best electric car and truck
at the lowest price is made by the byd corporation precisely unknown in the
United States for a simple reason they're not permitted to come here if
you go to Europe today and you go on the highways you'll see byd vehicles all over the place why Mr Biden first Mr
Trump put a 27% tariff on electric vehicles from
China and then Mr Biden while he was still president raised it to
100% so if you want to get a byd electric car say it cost
$30,000 if you're an American company or an American individual you would have to
come up with 30 grand that goes to China to buy the car and 100% another 30 grand

1:11:00
that goes to Uncle Sam as a tariff costing you 60,000 what does this mean it means that
Americans won't buy the Chinese car cuz it's 60 Grand and they can get for 45 or
50,000 a Tesla or a GM this is a a
tariff that protects Tesla and GM what that's why it's there
but it denies to the American people access to the best electric
vehicle at the lowest price and now let me explain very briefly why that is
stupid okay American companies compete
with companies in the rest of the world American companies that make shoes if there are any left American companies
that make anything they need trucks for example they need a truck to bring the inputs to wherever they carry out

1:12:02
production and they need trucks to take the output to wherever it's sold right
so trucks are wide widely used input here in America by American companies
and everywhere else in the world but everywhere else in the world is now going to be able to get the best quality
electric truck for3 ,000 whereas their American competitor could only get the
best electric truck if they paid 60 which they won't they'll buy an inferior
truck and still pay more than their competitor pays for the superior truck
and you know what that means American companies are going to lose the
competition and eventually lay off the workers since they can't sell their
products that have been too EXP expensively produced so you're protecting the
workers at GM and Ford but at the expense of not only many

1:13:07
other American workers but I can tell you as a mathematical Economist we
cannot know whether the jobs we protect in the automobile industry won't be
overwhelmed by the jobs we lose as a result of this tariff

Donald Trump’s Huge Misunderstanding About Tariffs

1:13:25
okay we live in a society which I may Jump Ahead in the in our conversation in which we allow a
president to do two remarkable Mr Trump two remarkable thing one to constantly
Miss speak about tffs by now it's intentional because I'm