That's how the theory goes but I would argue the observable evidence says otherwise. TSMC is Taiwan's national champion and effectively a global monopoly, Samsung is the same for Korea and is highly effective on the world stage, same again with ASML.
When a country does what it can to support its key industries those companies often out compete their global rivals and this is exactly the strategy China is using against the west with their support of domestic electric car manufacturing, solar panels, battery tech.
Alternatively the west is often anti big business and we've repeatedly seen national championions go under.
When a country does what it can to support its key industries those companies often out compete their global rivals and this is exactly the strategy China is using against the west with their support of domestic electric car manufacturing, solar panels, battery tech.
Alternatively the west is often anti big business and we've repeatedly seen national championions go under.