China doesn’t have a supply problem. It has 117 automakers. The country sells about 24 million new vehicles a year. It has production capacity for roughly 45 million. That’s 20 million units of excess capacity chasing survival. When no one is profitable, the strategy shifts. Overproduce. Force consolidation. Export the pressure. That’s what “involution” really means. Darwinism at industrial scale. BYD will survive. Many won’t. And the excess doesn’t disappear. It gets exported. That’s the real story behind tariffs. It’s not protectionism theater. It’s capacity containment. When scale becomes a weapon, the global market feels it. Watch the full episode at the link in our bio.