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China due to its massive solar trade surplus can do little against US and European sanctions. The country imports large amounts of polysilicon since its domestic industry does not have the capacity and costs to compete with the West yet. Polysilicon Companies like Hemlock, Wacker, REC, OCI fear the worst as they are mostly dependent on Chinese customers (their domestic consumers have mostly gone bankrupt). US Solar equipment companies like Applied Materials and GT Advanced Technologies too might face the ire of the Chinese government and companies who could look at alternatives in Europe. Only 5-6 polysilicon companies in China continue to operate due to the price crash. These companies like Renesola, LDK, GCL, Daqo New Energy will benefit massively if the government imposes duties. These companies will see their selling prices go up by 30-50% and also their volumes go up by a large amount, which will allow them to utilize their full capacity. India joins in by finding fault with China, USA, Malaysia and Taiwan Solar Cells India has joined the solar panel wars starting it own anti dumping investigation into imports of Solar Cells imported from China, USA, Malaysia and Taiwan. The Ministry of Commerce has found evidence that these imports have led to damage of the local solar manufacturing industry. The Indian solar industry has been crying hoarse for quite some time now against the imports of cheap solar panels from USA and China. Despite the central subsidy JNNSM mandating use of local solar modules for projects, thin film modules have been exempt. This has meant that the vast majority of the winners have used thin film solar panels making First Solar the biggest solar panel supplier in India. The local state subsidy missions have no such requirements which have led solar developers to use Chinese solar panels which are much cheaper than Indian counterparts. The main winners in case AD duties are imposed will be Indian solar cell and panel makers who are currently operating at 10-20% utilization. Summary The Global Solar Wars don't look like they will be resolved soon given the economic and political complexities. Solar Companies which are already dealing with a crash in revenues, margins and prices have had to factor in geopolitical calculation into their forecasting as well. These wars between the countries are not isolated to the solar industry but also extend to the steel, shipbuilding, LED and wind industries where years of Chinese over investment have led to a huge supply demand imbalance.