That arrangement seems to be almost entirely to the benefit of the EU/US, as there's little incentive for bright/ motivated Europeans or Americans to move to China, vs significant incentive in the opposite direction.
His point isn't mainly about individuals looking for jobs. It's about the economic environment for doing business in a country. You're basically forced to hand over your IP if you want to operate in China, among many other problems.
And btw, the job market for very qualified people in China arguably at least rivals the one in Europe, i.e. you can get better salaries in China than in large parts of Europe.
Google and Meta are the best software companies the US has produced in the last 25 years. These two companies are also largely responsible for driving up wages for SV workers. TikTok could destroy both companies.
Those two companies will be "destroyed" when they can no longer do what they do as well as their competitors. What the current laws are in China are unlikely to have much impact either way.
The point is that we allow competition from China but they can’t compete in China. It’s asymmetrical competition. The Chinese companies have a bigger population of customers (so more access to make money, more people to serve and grow from etc).
China protects their businesses from American competition but we don’t protect our businesses from Chinese competition.
Define well? There is no singular dimension of “well”.
Protect them from international threats works if the goal is stabilizing domestic business for national security purposes. Ask airlines for most of their history. Or look at the ability to use American car factories for the defense production act.
Will it produce the best product for their customers? Probably not. Look at American made cars. Not the best product.
Will it produce the best outcome for employees? American car companies employee thousands of union jobs that pay very well.
What if we successfully starve the competition? What if we don’t? No amount of government intervention was able to kill foreign car companies. But American car companies are still chugging along providing valuable employment to many Americans.
