The Western business world has changed its focus completely to short term high profit business, because the executives' pay packages are focused on quarterly returns and yearly stock price rises. China on the other hand typically takes the long view. For one example, which is currently receiving a lot of attention:
They saw companies abandoning low-profit long-payback mineral mining and refining operations and picked up the majority of that industrial sector. It's taken decades to pay back the investment, which they planned on, and now they control the critical resource streams feeding our modern civilization. Every Patriot air defense interceptor requires two kilos of rare earth elements, several of which China controls 90-100% of WORLD supply. A Patriot missile requires 2 kilos of REE, an F-35 over 30 kilos, modern advanced radars require gallium, which is ONLY available from China. As someone here on SlashDot remarked a while back, "China doesn't feel a need to help the US to build the weapons it wants to use against them", and they're banning suppliers from selling to Western weapons makers.
This is a very interesting Substack that I follow, this American lives in China and works in the export business, which is mostly what he writes about (with occasional insightful digressions). https://kdwalmsley.substack.co...