I work in rail safety. Two major non-Chinese train companies attempted to merge a few years ago, explicitly to build a company that could compete with China's national company, and provide safer alternatives to state-sponsored cyberhacking of Western rail. It fell down to an anti-monopoly decision by a single person in the EU ministry, who killed the proposal. Several attempts were made to streamline the merger, but…
This will probably get fixed with software audits necessary for compliance under the NIS2 directive. The EU fixed the problem with more regulation and bureaucracy, ensuring that only the big boys can comply. Protect us from China by becoming China?