Photovoltaic (PV) businesses around the world have taken their toll since the 2008 financial crisis, leaving many of them bankrupt or having to face serious financial strains. In order to save those industries, some countries have launched a protectionism battle, which will most probably have no winner.

On July 24 this year, German PV makers submitted an "anti-dumping" investigation request to the EU. On September 6, the European Commission launched a major anti-dumping investigation against Chinese PV batteries. The scale of the investigation was unprecedented, concerning up to $20 billion.

On the other side of the Atlantic Ocean. The U.S. Department of Commerce reached a verdict on October 10 this year to impose an anti-dumping tariffs from between 18 to 250 percent and an anti-subsidy tariff of between 15 to 16 percent against Chinese PV makers. For the verdict to come into effect, it would have to go through the U.S. International Trade Commission (ITC). And if this happens, the ITC would then make a final decision around November 23 this year.

While the EU and the U.S. accuse China of subsidising and dumping, these countries may not be innocent themselves. The price of European-made polysilicon products have been on a continuous decline from January to June this year.

To fight back, China's Ministry of Commerce has launched an anti-dumping and subsidy investigation against European polysilicon products.