Why some of the most important innovations happened in US? People from all over the world, of course. The rich rewarding environment with excellent universities and research facilities, government subsidies, and people do the trick.
You underestimate the importance of high profit margin business. Those businesses (cell phones, airplanes, engine, chips, and cars etc) provide the profits that people can enjoy the comfort and easy living of US and EU countries. These countries don't care manufacturing that much as long as they have some to produce and satisfy the basic requirements. But they want to keep and continue owning the market of high profit margin businesses, thus all the steps taken by them to protect their high profit margin businesses.
@littlewhiterabbit7363Ай бұрын
Isn't part of the challenges Chinese companies are facing coming from their efforts to move up the value chains? It is not like the Chinese don't want to operate high profit margin businesses. The question is how to get there without getting squashed by people who are already there🙂
Capitalism requires destructive reconstruction. Chinese EV is going thru this process to produce the necessary good companies competitive in the world. It is not just China. US, EU went thru the same process.