The ev and chip market may indeed be insurmountable to their subsidy model, but it has worked on so many other sectors that now only exist in China. They do have troubles discontinuing subsidies to sectors that capture government. But mostly the subsidize to bootstrap has worked wonderfully for them. Tariffs are one counter. But subsidizing your own existing sector to counter it is necessary as well and tariffs have the down side of making your industries uncompetitive globally. Argentina demonstrated this for us. An evenhanded subsidybthat doesn't pick winners is also necessary. China broke capitalism the same way VC does. Come in with a big enough bank roll and it doesn't matter if you are better if you can keep spending until the competition folds. The open question is if China's demographic issues will outpace productivity gains.