> I live in Germany, which has its automobile industry being shredded into pieces by China, and it's for a good reason though.

This is wrong. In the past German car makers made a great profit from selling cars in China and had a really good time. Now the Chinese have learned to build their own cars, which lead to a significant loss of market share for German and other foreign car makers.

But German car makers are still quite profitable. For example BMW just announced a profit of 7.68B Euros, and are still the largest exporter of cars in the USA (yes, exporter). The race is still on, and despite strong competition from Chinese car manufacturers, German car makers are everything but "shredded into pieces".