No one saw that coming did they?

The Inflation Reduction Act, often dubbed the Democrats’ “Green New Deal” law signed by Biden in 2022, has become a double subsidy for the China rivals the legislation sought to counter. Assuming the law was designed to support an American industrial base for the new post-fossil fuels economy the Biden administration and the Democrats want so desperately to build, then it is worth noting that of all the countries whose companies have announced new investments here in order to benefit from the IRA tax breaks, China leads the pack.

This is most obvious in solar.

American companies like First Solar of Ohio are expanding because of the IRA. But China solar powerhouses Trina, JA Solar, Longi and Canadian Solar – which is not Canadian other than maybe having an office in Ontario – are also investing in Arizona, Texas and Ohio. That’s four Chinese solar companies to one.

Chinese companies could gain up to $125 billion of U.S. funding for their plans to extend their domination of that industry. That is on top of the funding the Chinese government already gives........

© The Daily Caller