Actually, China did some neoliberal brainworms in the past ten years in the chips industry, where they have mostly relied on encouraging private capital and entrepreneurship to boast research and production (still with state investment of course). Some of them have been quite successful, such as those involved in the electric car industry. But a good number of them seem pretty similar to those Silicon Valley startups that mostly just scam investments and government subsidies—and there have in fact been a few prominent cases of private-equity-backed startups going bust just months after launch. And the whole industry seems to have been plagued by financial speculations as well (of course private investments tend to be more interested in short-term returns than long-term national strategic goals)

Fortunately, literally just over the past few weeks, the government has been rounding up some of the biggest players in the industry (managers of investment funds, CEOs of major companies, etc) for possible corruption etc. Hopefully the state has realized that it needs to play the leading role.

Fuck neoliberal brainworms everywhere lol