alt Hacker NewsChinese companies don't have quarterly financial metrics to report to shareholders, which result in severe punishment if the "growth at all costs" strategy isn't followed. This means chasing quarterly profit over innovation, because it's much easier to milk an asset for as long as possible until suddenly it isn't and you're left behind. But that doesn't matter when the pressure is entirely placed on showing financial growth three months from now. Chinese companies are allowed to strategize for the long term, and receive assistance from the CCP to dominate foreign rivals.
They're playing the long game while we're playing the "whose dick I have to suck to get a better position in the next 5 years" at every level of the hierarchy both politically and industrially.
We moved all our factories there thinking they'd work for cheap and stay peasants forever. Meanwhile their education seriously leveled up while ours stagnated (at best) or declined. In the meantime they also mastered manufacturing techniques, and now they're slowly taking the lead over pretty much everything. Couple that with an authoritarian regime still viewing the world through the historical long term prism and you get a pretty good combo. We ended up losing the mass, know-how and innovation capabilities, all at once in ~50 years.
I hope we never have a hot conflict with them because all their drones/3d printing/thermal vision/&c. companies will produce more kamikaze drone in a day than we'll produce in a year.