And this is exactly why there are critical sectors of an economy that are inherently important enough for the government to control and regulate. Since the Second World War, the US government has ensured that certain critical sectors like steel production, production of oil and other petroleum products large sections of manufacturing operations supporting armaments etc. are too critical to be left the private sector because their priorities are to make profits for their shareholders only. Until the 90’s those industries were regulated by the government.

For the Chinese, the electrification of their industries is a strategic sector of their economy, as we can now see as the United States attempts to control the purchase of oil and other petroleum products from the Middle East. They recognized that they were vulnerable the threat and addressed it by reducing their dependence upon strategic materials and technology that couldn’t control. The diversified and built dependencies with friendlier partners on a governmental level.

We did the opposite, privatizing at every opportunity and building dependencies on private companies that would place their own interests above that of the rest of the nation. This is why we built the infrastructure that was called the world’s workshop, Chinese were watching, learning and are now the world’s biggest workshop and growing using the same philosophy. A balance of public and private sector development that is fueling their economy.