To be clear too, this is not capitalism. This is corporatism. Large companies dictating economic companies is anti-innovation. It can only end with disaster and more control/corporatism because lower-productivity workers does not produce higher long-term growth. Temporarily you are able to get your bonus and stock options from the spread between imported and native workers but, eventually, demand and supply stop (and the US reached this point a while ago, which is why central bankers and politicians have had to intervene heavily to keep it going).

The end game for corporatism is shown in Europe where you can see a clear gap between countries that are built on non-zero sum systems which are thriving, everything just works...and then other countries which have been heavily corporatist for multiple decades, everything is collapsing, government function is both non-existent in many areas and reaching new highs of intervention into markets. Unfortunately, the Chinese were right.