That is a sincere understatement.
The U.S. does not realize how far ahead China is.
When Charlie Munger raved on about BYD I thought that there was some hyperbole, but, the U.S. will unfortunately learn the hard way what the effects of protectionism is.
Tesla, and by extent, the U.S. will go down a path of mediocrity due to the lack of competition, and for what little gain; even Teslaβs cars are largely manufactured in China. GM and Ford recognize they no longer can compete in the electric vehicle industry.
How unfortunate this is, coming from the ventures of the field and all recent progress; to becoming suppressants of progress.
Only some decades earlier they were wiser, letting Japan compete, and reaping the rewards of progress.