Earlier quoted context omitted.
That's where China was smart I guess. They didn't sign any treaty which forced them into free trade or IP protection, but instead slowly allowed their industries to build up via IP theft and strong protectionism. Now they have giant companies on par with the West's. Whereas everyone who joined the EU in the decade of 2000 (and the Washington Consensus before that in the nineties) is now a pawn of the Western capital…
I really think China is making a huge mistake actually. See how TSMC (Taiwan) and Samsung are free to buy ASMLs EUV machines, while China is blocked. Part of that is due to their rampant IP theft. Why sell machines to China if they're just going to copy them? China also messed up big time by enforcing their 1 child policy, and taking so long to open up and industrialize. They're far behind economically compared to wh…
Other than my car and some furniture, pretty much everything I've bought that cost more than $100 in the past 10-20 years has been made in China.
> Will a giant Chinese company ever gain the reputation of Samsung or Sony?
Perhaps not, but they'll likely continue to manufacture most of the products sold by the Sonys and Apples of the world.