That argument doesn't hold much water in my opinion. VW AG is partially state-owned, with a double-digit percentage held by the federal state of Lower Saxony.

Meanwhile, in the US, companies like Boeing, GM, and Intel will never be allowed to experience more than minor financial inconvenience before the government bails them out with protectionism, guaranteed loans, and outright subsidies.

I don't see a material difference between how the Chinese government treats their strategically-important industries and the way we do here in the West. Terms like "socialism," "Communism," and "capitalism" are just fodder for Fox News camp-followers.