All of this is true and credit assignment is hard, but the brutal competition between Chinese firms, especially in manufacturing, differentiates them from and a

All of this is true and credit assignment is hard, but the brutal competition between Chinese firms, especially in manufacturing, differentiates them from and advances them over economies in the west. It makes investment hard as profits are competed away, which is blasphemy in Thiel's worldview, but is excellent for consumers both local and global.