> so most of that money was never actually deployed competently IMO that' doesn't follow. When 100s of billions are involved, graft limited to a few percentage

> so most of that money was never actually deployed competently IMO that' doesn't follow. When 100s of billions are involved, graft limited to a few percentage points while rest is deployed correctly. Access money hardly stopped other PRC industrial policy from succeeding. Regardless, small % is still 100s of millions / billions meaning it will get CCDI attention. The issue was coordinating greenfield ecosystem and domestic demand to play nice together, which they couldn't when western options were available. Now PRC domestic semi looks to be integrating at rapid rate, partly because most of the money did their job and build up enough domestic players across the semi supply chain so they're not starting from zero.