For decades china forced western companies to turn over IP and manufacture in china. Then copy and duplicate to form their own. Return the favor.
This is the problem with investors and bankers. They see competition as something to avoid.
US companies shouldn’t bother with China until China is a functioning democracy, which may be never, but there are hopes.
That’s what happens when a government massively subsidizes manufacturing in an industry.
You know that American car makers are heavily subsidized right? Didn’t we just post a story about GM fleecing the government of 6 billion.
It’s amazing how Americans have zero self-awareness.
US corporations have been “massively subsidized” to the tune of hundreds of billions of dollars a year, for most of the last century. Now that they can no longer compete against the monster they financed the last 40 years, all you simps jump to their defense instead of blaming them for turning their backs on, and impoverishing, the domestic workforce, and endangering national security.
This is what happens when you let your corporations outsource their operations to authoritarian states; chasing the lowest paid workers, circumventing labor and environmental regulations, and devaluing the domestic labor market for generations. They had no problem “competing” when they had the strategic upper hand and were generating more profits.
Oh well, at least the richest 1% got richer.
It’s very nice to see more non-Western alternatives.