China, with heavy state subsidies, has also proven to be pretty effective. Interestingly, it hasn't had to embrace immigration because it has over a billion people.
This story is a great example of the system taking a brilliant person, and stomping their opportunity down because they were from the wrong class. But replace class with whatever you like.
The main thing they do is stack the market to be very favourable for a given industry and then have extreme competition between the companies.
Where I find China lacking is in creativity and imagination. Yes, there are some changes in that front happening, but you'll never find OpenAI, Helion Energy or SpaceX being founded in China. Those projects won't even get the greenlight from the CCP to get started off the ground because of their high capital and startup costs.
Infrastructure Education Political stability
Individuals will do the rest.
As we know the CCP-for all it's faults- has provided all of the above.
