Both statements can be true at the same time. But the scale of one is many times larger.

China’s MO from rare earths and magnets to cars to silicon follows the same plan. Take IP, Subsidize the industry, Research, once you have a monopoly use it to squeeze adversaries.

I will say at least China is willing to kill off underperforming companies.

The US needs to let a lot of legacy companies that aren’t performing die off. It also needs to break up oligopolies in many industries. Why compete when you can buy up the future competitors and set prices with a handful of competitors. The financialization of our economy is choking us.