The Chinese government is more hands on with businesses than the US. Like, they even put members of the government onto the company’s board.

That’s the sort of behavior that makes me suspect that a lot of Chinese businesses are intentionally operating at a loss at the direction of the CCP to undercut international business.

American politicians do similar things, but it’s more about corruption rewarding companies who support politicians. China is doing it much more pointedly and deliberately. That’s why they’re seeing such good results lately.