> despite heavy state intervention in the economy

Arguably because of state intervention in the economy. They give generous cash subsidies across various industrial sectors -- and as "investors" they have a remarkably light touch! Their standard modus operandi is to subsidize a number of competing ventures per sector (which number could be somewhere in the dozens or hundreds) and have competition take care of the rest. This is always good for the consumer, good where the perception of fairness is (internally) concerned, and good for the government's position of power. They don't build monopolies, nor are most firms left to scramble for multiple successive rounds of VC funding.

America prefers protectionism and tax credits; a markedly inferior overall strategy. We know this from the past five decades of economic history. Subsidies to high-value and growing technological industry are the best way to go from poor to rich, and the best way to go from "not producing much" to "producing everything we want."