“ To implement its agenda, Beijing relies on an arsenal of state-owned enterprises and ostensibly private companies whose incentives are shaped by China’s industrial strategy. “
What China has realized, and no other country has attempted, is to use the fact that every company can be legally coopted to work for the CCP to work ‘as one.’
Imagine if every major company in a country across every industry actually worked together in back rooms to ‘crush the world competition in every field’ they competed with.
This hasn’t been attempted before, and is what China is succeeding at, because western countries don’t have a mechanism whereby for example food processing companies would work with the semiconductor industry to gain dominance in each field (times 10).
What adds even more fuel to it is the massive population. It’s why the world cheers on India’s rise and is tepid about China’s now that they know the strategy.