China's electric vehicle industry is, by most accounts, experiencing unprecedented boom times: the cars are cheaper, consumers more primed to purchase them, and there are lots of viable options outside of Tesla.

Unfortunately, that competition comes with a price — or rather, with a price war. As the New York Times reports, rabid competition among about 50 of the country's top EV automakers has led to repeated price-slashing in a manic hunt for new buyers. As those manufacturers race to the bottom, it's causing an immense financial squeeze: many have started having trouble paying their suppliers to meet demand, instead imploring state-run banks to help them build more factories.

In other words, it's a startling reversal of expectations: in China, the world's largest communist country, an

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