Eh, European automakers definitely tried to beat them, and Tesla only exists because the US government paid their bills for a decade in an attempt to try to win as well. It's a well earned win imo.
China identified EV's (among other green tech) as the industry they would use to leapfrog some of their previous problems, and they cornered the fucking market on them. I dislike China as much as anyone, but they put in the work and did a good thing well. Chinese manufacturing dominates mid complexity products now. The days of Chinese products being shit are behind us.
Now...with that said, they still haven't shown that they can do anything but take western ideas/designs, add some minor refinements and produce them at scale with good quality. Attached to this, they're not really that close to the western nations in their ability to produce true high technology products/equipment.
Wait until they start brain draining the USA (or the international students within tech) - that should catch them up over time.
I'm not convinced. For the same reason China was losing 50% of their foreign educated post grads after they finished their degrees in the first place. People, especially intelligent people with career options, want to live in a place they're free. When given the choice, a massive amount of people will choose to not live in an authoritarian country.
The American brain drain will mostly drain towards other western nations.
I shit you not. I thought insider trading was illegal this whole time
Was thinking Asia countries, including China losing their own ppl to USA. Might not get a ton, but even an extra 100 smart students a year into their system that have the ability to be innovative can make a difference. Europe and Canada (I think we are still not really doing Ed visas for foreigners as much anymore right?) can’t take all the students