Lol you can’t blame China for doing business with US corporations. It was many two way transactions
The US makes different to subsidy or protection choices with their own effects. selective agriculture is subsidized and insured while things like Trucks are protected - inflating the size, pollution footprint, and selection of vehicles in the US.
We also have an indirect manufacturing & tech subsidy through military spending. Not super efficient at developing our economy but not a small effect either.
I support where the US is rethinking the balance of subsidy and protection on computer chips but wish some of the existing ossified decisions were revisited or rebalanced.
It's not that I'm blaming China as much as I'm trying to explain the mechanics. Of course US consumers and corporations chose to take the path of immediate gratification, leading to the hollowing out of the American working class and mfg base. But it also led to decades of low inflation, a soaring bond market, and increased standard of living for Americans overall(even though some classes, like blue collar workers(particularly men) suffered).
How I'm reading your comment in the context of the topic is that if the US hadn't been involved in a costly war effort, they could have perhaps countered the moves China made by allocating trillions to support their own industry. They might not have, but at least it would have been possible without the war.
I don't fully understand all the dynamics, but you run into the https://en.wikipedia.org/wiki/Triffin_dilemma if you want to be the world's reserve currency while simultaneously possessing a competitive manufacturing and exporting sector. So even if the US hadn't been involved in the war, its industry would have been hamstrung and unable to compete effectively due to a strong dollar.
The US makes different to subsidy or protection choices with their own effects. selective agriculture is subsidized and insured while things like Trucks are protected - inflating the size, pollution footprint, and selection of vehicles in the US.
We also have an indirect manufacturing & tech subsidy through military spending. Not super efficient at developing our economy but not a small effect either.
I support where the US is rethinking the balance of subsidy and protection on computer chips but wish some of the existing ossified decisions were revisited or rebalanced.