I am reading "Chips Wars" and it paints a different view on topic. Both sides include massive subsidies from govs and American side uses tarrifs and bans of export of the goodies. China struggles massively because of the dolar dominance but they are trying. 

Something had to change in this case, maybe they have finally figured it out that you can't stop foss and mostly everyone benefits instead of zero sum games they've been playing for decades.

martinbarilik

Interview with DeepSeek founder Liang Wenfeng

MaxAWebster

I read a super fascinating take on the Chinese startup industry, that was something like:

American model: one startup survives, becomes quasi-monopoly, industry sparse, founders / investors gets insanely rich.

Chinese model: a number of startups survive, compete viciously, costs crater, founders / investors make little money, industry vibrant, consumers benefit.

I don't know enough to defend either perspective rigorously, but it's a very evocative expression of different kinds of outcomes, and how you can optimize for different things, and how foundational stuff can be invisible to the people inside the system.