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this post was submitted on 19 Sep 2024
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Subsidies are another way to say State planning, which is how you direct the "free market". No capitalist, which includes China, will "innovate" without being baited with money.
There are massive subsidies in the US as well, but these go into the pockets of the CEOs and political/financial class. If this were to happen in China they'd go missing like Jack Ma of Alibaba until he got his head right.